Odaily Planet Daily News Bitwise today released a new correlation analysis as part of its new Ethereum spot ETF application. This is the first Ethereum correlation analysis that replicates the specific methodology used by the SEC in evaluating Bitcoin, and the results are encouraging. Correlation values ​​for the entire sample time period only differ by no more than 0.2% in terms of hourly correlations, 5% in terms of five-minute correlations, and 8% in terms of one-minute correlations. To replicate the specific methodology used by the SEC in evaluating Bitcoin, Bitwise’s study used: - The same length of sample time period: approximately 2.5 years - The same intraday correlation intervals: 1 hour, 5 minutes, and 1 minute - The same Market: Coinbase/Kraken VS CME - Same correlation statistics: Pearson correlation for log returns - Same three-month rolling window min/max analysis Bitwise believes that the analysis results show that the ETH spot market vs. CME ETH futures market There is a strong correlation, which is very similar to the SEC’s research findings in the Bitcoin spot ETF approval order.