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The imminent approval of spot Ethereum ETFs could catalyze Ether’s performance relative to bitcoin. This is the conclusion of a recent analysis by Kaiko, as the crypto sector eagerly awaits the SEC’s green light for these new investment vehicles.
A favorable momentum for Ether
The ETH/BTC price ratio, a key indicator of Ether’s relative strength against bitcoin, shows encouraging signs. This ratio, currently at 0.05, has already increased since the SEC‘s announcement regarding spot Ethereum ETFs. An increase in this indicator would signal better performance of ETH relative to BTC.
The shallow market depth of Ether, measured at 1%, could amplify this dynamic. This metric, reflecting the available liquidity, suggests that an increase in demand could have a significant impact on prices.
Clara Medalie, an analyst at Kaiko, explains: “The reduced liquidity of ETH makes it more…
