The Ether (ETH) he will reach a new ATH within a few days or weeks ? Bitcoin (BTC) is no longer the only one to benefit from the support of institutional investors.
Futures contracts: institutions drift from Bitcoin to Ethereum
Ryan Watkins argues that the Chicago Mercantile Exchange ( CME ) announcement of the launch of ETH futures marks the start of institutional investor interest in the 2nd crypto in the market.
In a tweet on December 27, 2020, Watkins indicated that once investors accept the possibility that Bitcoin has value, it becomes easier for them to legitimize other cryptos. The jump from Bitcoin to Ethereum is therefore unavoidable.
According to data from Bybt.com , CME is the largest exchange for BTC futures contracts .
As of December 28, 2020, the value of BTC futures contracts was $ 1.67 billion.
Some analysts expect demand for Bitcoin to eventually spill over to Ethereum .
ETH and BTC bulls run together
The Ether has surpassed the USD 700 and USD 800 for the first time in two years in December 2020. The ETH continued its ascent above the USD 1140 approaching its current HUD.
This sharp rise could signal the start of an altseason.
Bitcoin continues its rise above $ 30,000. An altseason would rule out Ripple ( XRP ) mired in trouble over SEC complaints against the company and its executives .
Watkins is not the first to point out the growing investor attraction for Ether . Michael Sonnenshein , manager at Grayscale , had also indicated that many clients were increasingly paying attention to Ethereum only funds .
The Bitcoin Trust Fund Grayscale is by far the most popular product of the company but, Sonnenshein was a significant increase in cash inflows in the Ethereum Trust .
Investing in Bitcoin for its scarcity and in Ether for its usefulness: a strategy that holds up to protect yourself from fiats inflation while benefiting from innovations in the cryptosphere. Bitcoin could reach 100,000 USD by the end of 2021, altcoins could meanwhile also see their price explode: who said that Bitcoin structurally tends to overshadow its younger siblings?
