NEW YORK - Cryptocurrency trading firm QCP Capital has projected that Ethereum (ETH) may outshine Bitcoin (BTC) in the medium term. This outlook is based on market anticipation of a U.S.-approved Ethereum spot Exchange-Traded Fund (ETF), a development that could follow the recent approval of a Bitcoin spot ETF.
The trading pair "ETH/BTC" has experienced significant volatility, recently reaching a peak surpassing 0.06 BTC. QCP Capital suggests that Ethereum's value could see a substantial increase, potentially bringing its market capitalization near the $750 billion mark, if it emulates Bitcoin's valuation trajectory after the latter received ETF approval.
The growing interest from institutional investors in cryptocurrencies is underscored by major investments from entities such as ARK Invest. Additionally, the financial giant BlackRock (NYSE:BLK) has submitted applications for an Ethereum spot ETF, indicating a broader acceptance of digital assets among traditional investment firms.
While the prospects for Ethereum appear promising, the Securities and Exchange Commission (SEC) may not make a decision on an Ethereum ETF until after the U.S. presidential election in November.
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