Institutional investors are increasingly relying more on Ethereum over Bitcoin, said JPMorgan Chase, the largest US bank, in its analysis report on the purchase status of futures on the Chicago Mercantile Exchange (CME).
According to the analysis, the moving average of the difference between the Bitcoin futures prices and the spot prices weakened in September, turning from positive to negative within a month.
On the other hand, the difference between Ethereum futures and spot prices remained positive in September. The analyst report read:
“This points to a much healthier demand for [ether] vs. bitcoin by institutional investors.”
Talking about current price levels, Bitcoin has decreased by 10% from the previous whereas Ethereum saw a fall of 5%.