Spot Bitcoin ETF (BTC-USD) quotes have recently led to a price boom in the core crypto asset. Is it time for cryptocurrency Ethereum (ETH-USD) to experience similar luck through ETF trading?
Bitwise Senior Crypto Research Analyst Ryan Rasmussen – whose firm oversees the Bitwise Bitcoin ETF (BITB) – joins Yahoo Finance Live to discuss digital asset performance and the likelihood of spot Ethereum ETF approval.
“There are many forces at work here in the crypto market. In the case of Bitcoin, we see two things at play: There is a lot of excitement surrounding the halving, and we are certainly seeing futures trading taking these positions. “We believe they are bullishly positioned in April, in the area, in which they believe the price will move,” explains Rasmussen. “For Ethereum, it is speculation on Ethereum spot ETFs. There is a lot of excitement about a new upgrade coming to the Ethereum network in March. It’s called Dencun… and it should reduce the cost of transacting on Ethereum.”
For more expert insights and the latest market activity, click here to watch this full episode of Yahoo Finance Live.
Editor's Note: This article was written by Luke Carberry Mogan.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.