Ether is expected to gain value relative to Bitcoin soon, driven by the anticipation of spot exchange-traded fund (ETF) trading, according to Joshua Lim, co-founder of Arbelos Markets.
Lim predicts the ETH ratio will rise to 0.06, up from its current 0.056, after climbing from a low of 0.045 in mid-May following the SEC’s approval of eight spot ether ETFs.
K33 Research supports Lim’s view, noting that ether is well-positioned for strength against bitcoin until the ETFs launch. Their report suggests increased ether exposure, highlighting its similarity to bitcoin’s performance before its ETF approval and its limited impact from Mt. Gox creditor repayments.
Lim also mentioned a prolonged re-evaluation and price adjustment in the ether market due to its historical under-ownership. The approval of Ether ETFs has also sparked interest in other high market-cap assets, particularly legacy proof-of-work coins.
Despite this positive outlook, ether’s price dropped by over 2.7% in the past 24 hours, trading at $3,839, while the GM 30 Index of top cryptocurrencies fell by 2.67% to 145.40.
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