Ether’s price strengthens in its ETH and BTC pair as investors await spot ETH ETF to start
Ether (ETH) started the year strongly but began tapering off in mid-March. However, the altcoin began picking up momentum in mid-May amid anticipation of the approval of spot Ether exchange-traded funds (ETFs) in the United States.
Although ETH has trailed Bitcoin (BTC) since Jan. 1, it has outperformed the flagship cryptocurrency since spot Ether ETFs received official approval from the Securities and Exchange Commission on May 23.
Since May 15, ETH has surged approximately 30% compared to BTC’s 9% gain in their respective U.S. dollar pairs.
