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Institutional Investors Preferring Ether Over Bitcoin Now: JPMorgan
The spread between futures prices and spot prices for the two cryptos is telling, analysts wrote.
Institutional investors are showing more confidence in ether than bitcoin, according to an analysis of Chicago Mercantile Exchange (CME) futures buying activity by JPMorgan.
- The analysis showed that the rolling average of the difference between bitcoin futures prices and spot prices had weakened and shifted from positive to negative in September.
- By contrast, the difference between ether futures prices and spot prices remained positive and actually increased in September.
- ”This points to a much healthier demand for [ether] vs. bitcoin by institutional investors,” JPMorgan wrote.
- Bitcoin prices have fallen almost 10% over the last month, while ether prices have dropped about 5% over the same time period.
Read the full report:
STORY CONTINUES BELOW
Nelson Wang
Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.
