Ethereum ETF To Follow Bitcoin ETF? Why ETH Is Shooting For All-Time Highs

Ethereum ETH/USD traded 8.26% higher at $4,155.24 over 24 hours in the early hours of Thursday.

What’s Moving? At press time, ETH traded 4.77% below the all-time high of $4,362.35 that it touched in May.

Against Bitcoin BTC/USD, it rose 6.92% over 24 hours. Over the last seven-days trailing period, ETH has risen 14.58%. 

Since the year began, ETH has gained 468.79%, while over the last 90-days it has spiked 100.43%.

Why Is It Moving? Ethereum moved higher in tandem with the apex cryptocurrency, which touched an all-time high of $66,930.39 on Wednesday.

See Also: How To Buy Ethereum (ETH)

The cryptocurrency markets are exuberant over the launch of ProShares Bitcoin Strategy ETF BITO.

ETH was the second-most trending cryptocurrency on Twitter at press time, as per Cointrendz data. It was mentioned in 6,452 tweets, while BTC which topped the Cointrendz list was mentioned in 16,957 tweets. 

A possible future Ethereum ETF is capturing the attention of options traders, reported Coindesk.

The “long-term attention seems to be shifting from BTC to ETH with potential ETH ETF release after BTC [ETF in the U.S.], coupled with ETH 2.0 catalyst,” said QCP Capital, an Asia-based digital economy trading firm, as per CoinDesk.

“With the launch of the bitcoin futures ETF, it has become a certainty that an ether ETF of the same kind can’t be that far off,” said Ether Capital Chief Financial Officer Stefan Coolican.

Crypto Twitter was abuzz with talk of an Ethereum ETF as well.

My bet is we will see an Ethereum Futures ETF before we see a physical Bitcoin ETF.

— The Wolf Of All Streets (@scottmelker) October 20, 2021

#ethereum already pumping, just wait until they announce the ETH ETFs!!!

— Lark Davis (@TheCryptoLark) October 16, 2021

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