Traders Prefer Bitcoin to Ether Despite Developing Spot ETH ETF Narrative
The ether-bitcoin forward term structure is downward sloping structure, which means that traders expect ETH to perform weaker than BTC as time goes by, one trader said.
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The ether-bitcoin forward term structure is downward sloping structure, which means that traders expect ETH to perform weaker than BTC as time goes by, one trader said.
The British bank predicts that the SEC will eventually treat spot ether ETF applications similarly to bitcoin ETFs, putting May 23 as the expected date for an approval.
Periodic observations and market musings from Todd Groth, Head of Research, CoinDesk Indices.
The way ether options are priced suggests investor preference for bets that prices will fall, contradicting the bullish outlook presented by some analysts.
Lawsuits against crypto exchanges offering staking services for proof-of-stake blockchains, including Ethereum, make approval of a spot ether ETF more challenging until these cases are resolved, the investment bank said.
The ether- bitcoin ratio has surged 10% in the first 19 days of the year, taking back part of last year’s 25% slide.
Larry Fink has been talking up a spot ether ETF, but index provider CF Benchmarks sees a conundrum when it comes to selling that product.
Several firms have filed applications for spot ether ETFs, including BlackRock.
Bitcoin ETFs clocked up some $4.6 billion in volumes on their first day, but market volatility hit futures speculators as prices whipsawed.
This means there is now a 5.6 day wait for validators to exit the Ethereum blockchain.