BlackRock Ethereum ETF sparks surge in ETH/BTC ratio
BlackRock's iShares Ethereum Trust registration in Delaware could significantly impact Ethereum's institutional-grade investment market. Ethereum (ETH) surged, breaking above $2,000 for the first time since July. This ratio represents Ethereum's strength against Bitcoin, with a higher ratio indicating a preference for ETH over BTC.
The ETH/BTC ratio spike and increased trading activity highlight market attention. BlackRock's registration, similar to iShares Bitcoin Trust, suggests optimism for Ethereum's future despite the SEC's refusal to approve an ETF. However, this raises uncertainty in the crypto industry.