Over the past 30 days, Ethereum (ETH), the second-largest cryptocurrency, has experienced a notable surge of 17%, outperforming Bitcoin (BTC), which has recorded a surge of 2.5% over the same period.
This comes as the initial excitement surrounding the approval of the exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) appears to have waned, with BTC witnessing a 5% drop in the past seven days.
Interestingly, according to crypto trading firm QCP Capital, following the approval of Bitcoin ETFs, the focus has shifted to the potential launch of an ETH spot ETF, which could be one of the factors for Ethereum outperforming BTC.
Ethereum Gains Ground Against BTC
According to QCP Capital, the total volumes transacted across all 11 ETFs in the past week have reached $9.8 billion. The Grayscale Bitcoin Trust (GBTC) alone accounted for $4.6 billion.
Since converting from a Trust to an ETF, GBTC has experienced outflows of $1.17 billion. This is “unsurpri
We współpracy z: https://www.newsbtc.com/ethereum-news/qcp-capital-forecasts-eths-dominance-over-bitcoin-to-persist-ethereum-etfs-in-focus/
