JPMorgan report reveals Ethereum futures are gaining more popularity than Bitcoin futures
A recently published report by JPMorgan, points out that more and more institutional investors are investing in Ethereum futures, which implies that Bitcoin’s would be being pushed into the background.
According to the report published by JPMorgan, Bitcoin futures were originally listed as the preferred crypto investment assets by institutional and high-caliber investors, precisely because they are products offered by regulated platforms that do not involve directly manipulating cryptocurrencies with the risks that that entails.
However, the figures evaluated by analysts that Ethereum futures are registering more and more capital, coinciding with the outflow of money from the other aforementioned market.
“This is a setback for bitcoin and a reflection of weak demand by institutional investors that tend to use regulated CME futures contracts toga exposure to bitcoin.”
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Given this, they support the thesis that investors see Ethereum as a very promising value asset, which has experienced significant growth in recent months.
According to the report, the general belief is that you have to seize the opportunity before it is too late, which happens when the cryptocurrency gains the attention of the traditional market.
Although there are high expectations for Ethereum futures, just last week an analyst at JPMorgan indicated that the prices of the digital currency is overvalued, since a more realistic estimate should give around $1,500 per unit, 55% below its current price.
There are high expectations placed on Ethereum in the long term, as well as the fact that it is among the networks that host highly demanded use cases today, such as the ecosystem of decentralized finance (DeFi) and the digital collectibles industry (NFT).
Although the supremacy of one or another cryptocurrency in the markets is somewhat debatable, those who support Bitcoin have their expectations around the arrival of a fund traded on the US stock exchange (ETF) based on the digital currency.
However, the final decision rests in the hands of the Securities and Exchange Commission (SEC), which will have the last word to choose which of the aspiring companies will be the one that holds the title of launching the first Bitcoin ETF within from the country.
Analysts and enthusiasts assure that this could come to pass very soon, precisely because there is a lot of pressure on the body to approve this product given the progress that other countries that have already taken the step are registering.