According to crypto research firm K33 Research, Ethereum is likely to outperform Bitcoin after the US Securities and Exchange Commission (SEC) makes the final decision on the first Eher futures ETH in mid-October.
K33 analyst Vetle Lunde explained that ETH price can benefit from stronger momentum related to a likely exchange-traded fund listing. The firm also cited Bitcoin’s 60% rise in the three weeks ahead of the launch of its first futures-based ETH two years ago.
In mid-August, Bloomberg reported that the probability of the SEC approving Ethereum futures ETF seemingly improved, however, nothing has been confirmed yet. The SEC first approved a Bitcoin-linked futures ETF in October 2021 and it keeps saying no to ETF spots, saying that this market does not have enough policies to protect common investors.
Meanwhile, according to Bloomberg ETF analysts, a spot Bitcoin ETF has a 75% chance of being approved by the end of 2023 and 95% by the end of 2024 after Grayscale’s victory against the SEC.
Back to the ETH futures ETF, the deadline for the SEC making decision is from October 11-17. ETH is currently priced at $1,629, recovering from a low of $1,550 on August 18, which is also the lowest level since March 2023.