Although the market is paying attention to the development of ETH ETF, investors are relatively more optimistic about the performance of BTC

Although the concept of a spot ETH ETF is constantly evolving, traders prefer Bitcoin over Ether. A week ago, Standard Chartered Bank stated that Ethereum (ETH) could surge to $4,000 within the next three months and potentially outperform Bitcoin (BTC), as the U.S. SEC may approve an ETH spot exchange-traded fund (ETF). According to data tracked by crypto asset management company Blofin, the forward term structure of ETH/BTC futures (calculated based on the ratio between Ethereum futures and Bitcoin futures prices at different maturities) has been consistently sloping downwards. Griffin Ardern, a trader at Blofin, said "the downward-sloping structure is backwardation, which means that over time traders expect weaker performance from ETH compared to BTC, indicating investors' relatively stronger confidence in Bitcoin's performance."