Factors Behind Ethereum's 2024 Lag vs Bitcoin

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Ethereum price underperforms BTC on a number of metrics as investors await spot ETH ETF to start trading.

Ether started the year strongly but began tapering off in mid-March. Although the ETH picked momentum in mid-May amid anticipation of the approval of spot Ethereum ETFs in the United States, it has underperformed Bitcoin. 

ETH has surged approximately 60% over the last 12 months compared to BTC’s 87% gain in their respective USD pairs.


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