Ether (ETH) surpasses Bitcoin
The move came ahead of the expected vote on a broader crypto market structure bill by the end of September, triggered by the US stable law (genius law), the report said.
In July, Spot Ether ETF saw a record $5.4 billion inflow, and at the same time it roughly coincided the Bitcoin ETF inflow. Although Bitcoin ETF posted a modest spill in August, Ether Funds continues to attract capital, JPMorgan said.
Bank analysts pointed to four major factors behind the recent strengths of the ether.
Investors will bet on the Securities and Exchange Commission (SEC) and ultimately allow spot ether ETFs to staking.
Analysts say that the company’s demand is also increasing, with about 10 public companies currently holding ether, equaling a total of 2.3% of their circular supply. Some of these companies may seek additional income through staking or distributed financial (DEFI) strategies.
At the same time, the SEC shows that liquid-spread tokens may not qualify as securities and may not alleviate institutional concerns. The approval of spot crypto ETF’s physical repayments is expected to reduce costs, improve liquidity during large withdrawals, and limit forced sales.
JPMorgan suggests that ether holdings for both ETFs and the Ministry of Corporate Treasury could rise further, pointing to a high share of Bitcoin in circular supply trapped in both categories as a benchmark.
read more: Ether Resurgence acquires steam backed by spot ETF demand and growth on the chain: City
