Oct 6, 2023

Ether (ETH) is hovering above $1,600 after dropping to its lowest price compared to bitcoin since July 2022, as the launch of futures-based ETH ETFs attracted meager interest from investors.

Video transcript

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. Let's take a look at the chart of the day. The Ether to Bitcoin price ratio dropped to a fresh 15 month low. This week, some investors had expected excitement around Monday's launch of futures based E ETF S to generate buying interest. Yet it was a slow start for the first day of trading volumes on the nine newly launched Ether ETF S were just 0.2% of similar futures based Bitcoin ETF products that were launched in late 2021. That's according to K 33 research. Meanwhile trading view data suggests the E to BT C trading pair on key crypto exchanges. Binance and coin base slid firmly below 0.06 this week near its lowest level since July 2022. And he raised what had been a modest rally for the ratio in September. Ether is hovering around 16 37 right now after drop to its lowest price compared to Bitcoin since July 2022. As the launch of futures based E ETF S attracted meager interest from investors expecting Ether to continue underperforming key 33 research advised to rotate back to Bitcoin. That's it for today's chart of the day. I'm Jen Senai. We'll see you next time to unpack more of the data behind top news stories.

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