Cryptocurrency market analysis company K33 Research stated in a report on Tuesday that Ethereum is expected to outperform Bitcoin in September and October, as it benefits from the strong momentum related to the possible listing of exchange-traded funds (ETFs). The final deadline for the Securities and Exchange Commission (SEC) to approve or reject the first Ethereum ETF is mid-October, and the chances of the agency approving the product are high.
K33 senior analyst Vetle Lunde explained that this development could push up the price of Ethereum, and pointed out that Bitcoin rose 60% in the three weeks before the launch of the first futures-based ETF two years ago. Lunde said, "ETH is highly likely," and referred to it as a "strong relative buy compared to Bitcoin, with the ETH/BTC trading price close to a 2.5-year low, with considerable upward potential."
