price <\/a>has outperformed that of Bitcoin.<\/p>\nRasmussen attributed this surge in Ethereum\u2019s value to speculation surrounding approving a spot Ethereum exchange-traded fund (ETF) in the US and the DenCun upgrade scheduled for March, which is expected to reduce transaction costs.<\/p>\n
However, regardless of Ethereum\u2019s optimism, Rasmussen cautioned that the approval of Ethereum spot ETFs might not be as straightforward as BTC spot ETFs.<\/p>\n
He pointed out the reluctance of the US Securities and Exchange Commission\u2019s Chair, Gensler, towards spot Bitcoin ETFs, suggesting a similar stance towards Ethereum.<\/p>\n
Rasmussen also noted that the recent Grayscale lawsuit may not have the same positive impact on Ethereum spot ETF approval as it did for Bitcoin. Looking ahead, he estimated a 50% chance of approval or rejection for Ethereum spot ETFs in May.<\/p>\n
The introduction of BTC spot ETFs has already significantly impacted the market, with billions flowing into spot Bitcoin ETFs. Should Ethereum spot ETF get approved, Rasmussen anticipates a similar demand for Ethereum spot ETFs, which could drive buying pressure and potentially increase prices.<\/p>\n
Featured image from Unsplash, Chart from TradingView<\/p>\n
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
With Bitcoin recently surpassing the $57,000 mark, marking its highest level since 2021, a surge in bullish outlook among analysts and experts has emerged. Bitcoin To $88,000 Among them is Ryan Rasmussen, a Senior Crypto Research Analyst at Bitwise, who recently shared his insights during an interview with Yahoo Finance. Rasmussen projected a bullish trajectory […]<\/p>\n","protected":false},"author":2,"featured_media":130857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-255528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=255528"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255528\/revisions"}],"predecessor-version":[{"id":255529,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255528\/revisions\/255529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/130857"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=255528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=255528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=255528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}