Ether Will Continue to Outperform Bitcoin in Near Term, Says Crypto Asset Manager

Ether ETH/USD will continue to gain value relative to Bitcoin BTC/USD in the near term, as anticipation of spot exchange-traded fund (ETF) trading draws investor interest to the second-largest digital asset by market cap, according to one investment manager. "ETH/BTC ratio probably keeps marching up to 0.06" Arbelos Markets co-founder Joshua Lim told The Block. Currently, the ratio is 0.056, having steadily climbed from a multi-month low of 0.045 in mid-May before the surprise approval of eight spot ether ETFs by the U.S. Securities and Exchange Commission (SEC) last week. The SEC approved the ether spot ETFs on Thursday, but unlike bitcoin ETFs, which started trading the day after approval, the ether ETFs may not go live for a few weeks or months.

Read the full story at The Block.