Banking Giant JPMorgan Says Investors Are Opting for Ethereum Over Bitcoin Futures: Report

Banking Giant JPMorgan Says Investors Are Opting for Ethereum Over Bitcoin Futures: Report


Analysts at financial services giant JPMorgan are reportedly saying Ethereum’s popularity among investors is growing at the expense of Bitcoin futures.

In a research note cited by Business Insider, JPMorgan analysts say large investors who typically use derivatives marketplace Chicago Mercantile Exchange (CME) are shifting away from Bitcoin futures and towards Ethereum futures.

 

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“This is a setback for Bitcoin and a reflection of weak demand by institutional investors that tend to use regulated CME futures contracts to gain exposure to Bitcoin.”

Based on CME data, JPMorgan analysts say the 21-day average Ethereum futures are selling at a 1% premium over the Ethereum spot prices. When there is robust demand, futures typically trade at a premium compared to the spot prices.

“This points to much healthier demand for Ethereum vs. Bitcoin by institutional investors.”

At the time of writing, Bitcoin is trading at around $42,500, while Ethereum is trading at $2,943, according to CoinGecko. Over the past 30 days,

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