Ethereum price underperforms BTC on a number of metrics as investors await spot ETH ETF to start trading.
Ether (ETH) started the year strongly but began tapering off in mid-March. Although the ETH picked momentum in mid-May amid anticipation of the approval of spot Ethereum ETFs in the United States, it has underperformed Bitcoin (BTC).
ETH has surged approximately 60% over the last 12 months compared to BTC’s 87% gain in their respective USD pairs.
A new Digital Assets: Insights and Market Trends report, a joint publication from CME Group and Glassnode, reveals some of the reasons why ETH has been underperforming BTC throughout 2024, as discussed below.
