Ethereum-based investment products are witnessing significant growth in demand among traders.
Increased Interest in Ethereum ETFs
K33 Research's Research Director Vetle Lunde noted that demand for Ethereum ETFs has risen by 160% since November 5. Lunde stated that VolatilityShares holds 50.1% of the open interest in Ethereum on the Chicago Mercantile Exchange.
Bitcoin’s Price Movements Favor Ethereum
Bitget Research’s Chief Analyst Ryan Lee highlighted that the rise in Ethereum’s price is driven by spot purchases. Lee commented that the recent increase is more accumulation-focused rather than speculative.
Overall Growth and Market Impact
Analyst Wolf mentioned the formation of a three-year cup and handle pattern for Ethereum. Analysts expect the increasing inflows to Ethereum funds and continued spot purchases to create positive effects across the entire market.
The growing interest in Ethereum-based investment products could significantly impact the overall cryptocurrency market.
