Bitcoin Trails Ether as ETF Hype Shifts to Second-Largest Token
- Traders speculate the next US crypto ETFs may be for Ether
- That’s a contested wager as regulators are wary of crypto
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The Ether token is outshining Bitcoin partly on speculation that the next wave of spot US crypto exchange-traded funds will focus on the second-largest digital asset, heralding increased investor demand.
So far this year Ether has climbed 30% versus Bitcoin’s 22% advance, a reverse from 2023 when the biggest digital token set the pace. Ether rose 1.5% to trade near $3,000 as of 7:44 a.m. Thursday in Singapore — close to the highest level since April 2022 — while Bitcoin edged higher toward $52,000.