Ethereum (ETH) has fallen to its lowest level since April 2021 against Bitcoin, as spot Bitcoin ETFs are expected to be approved.
Ethereum has been denominated in dollars since the beginning of September If it gains more than 40% value against Bitcoin lost 43% value and dropped from 0.085 BTC to 0.048 BTC.
One of the biggest factors could be spot Bitcoin ETFs, which are expected to be approved in the US today.
Over the past 14 months, Bitcoin’s market dominance over other altcoins has also increased. Improved from 39% to 54%.
BlackRock, which is trying to establish an ETF for Bitcoin, late last year Setting up an exchange-traded fund for Ethereum too He announced his plans.
Experts on spot ETFs to be established for Bitcoin investments worth tens of billions of dollars can be made he thinks.