Ether (Eth) has surpassed Bitcoin During the past month, promoted by strong entries to funds quoted in spots exchange (ETF) and growing corporate treasury assignments, Wall Street Bank JPMorgan (JPM) He said in a report on Wednesday.
The measure is produced following the US legislation.
In July, Spot Ether ETF saw record tickets of $ 5.4 billion, almost coinciding with Bitcoin ETF tickets during the same period. While Bitcoin ETFs have published modest flows in August, Ether’s funds continue to attract capital, Jpmorgan said.
Bank analysts pointed out four main factors behind Ether’s recent strength.
Investors bet on the stock exchange and values commission (SECOND) Eventually it will allow the rethinking for ETFs of Ether Spot, which would make them performance generating products while reducing technical barriers to participation.
Corporate demand is also increasing, analysts said, with about 10 companies that are quoted in the stock market now have Ether equal to a total of 2.3% of the circulating offer. Some of these companies can look for additional income through participation or decentralized finances. (Defi) strategies.
At the same time, the SEC has pointed out that tokens that accumulate liquids may not qualify as values, relieve institutional concerns, and its approval of reimbursements in kind for SPOT cryptographic ETF is expected to reduce the SPOT ETF reduces costs, improve liquidity and limit the forced sale for large withdrawals.
JPMorgan suggested that Ether holdings both in ETF and in the corporate treasure could increase even more, pointing out the greatest participation of Bitcoin of circulating supply blocked in both categories as a reference point.
Read more: Ether resurgence gains steam backed by the demand of ETF spot and growth in the chain: citi
