Ethereum ETF Next? IntoTheBlock Analyzes Market Shift from Bitcoin to ETH Amid Spot ETF Anticipation
Analytics firm IntoTheBlock suggests that traders are anticipating the approval of a spot market exchange-traded fund (ETF) for Ethereum (ETH) following the recent "fake" approval announcement of spot-based Bitcoin ETFs. Ethereum has outperformed Bitcoin by over 10% since the fake announcement, signaling traders' expectations for Ethereum ETF approvals. IntoTheBlock's analysis indicates that the SEC's approval of spot Bitcoin ETFs could pave the way for a similar approval for Ethereum, as both are subject to potential manipulation.
Edmund