📈 Bitwise Analyst Forecasts Ether ETF Approval Chance and Bitcoin Price Outlook

Bitwise crypto research analyst Ryan Rasmussen projects a 50% likelihood of approval for a Spot Ether ETF by May, indicating growing interest from institutional investors in such ETFs.

Ether has seen a 40% increase year-to-date, currently trading at $3,203, while Bitcoin has surged by 32% year-to-date, with its current price at $55,656.

Rasmussen highlights the increasing activity in the options and futures market for Ether leading up to the potential approval date, contributing to Ethereum's outperformance compared to Bitcoin this year.

In a significant development, Grayscale's successful legal challenge in 2023 against the SEC's rejection of its application has opened the door for potential approval of other spot Bitcoin ETFs.

Moreover, Rasmussen predicts Bitcoin to reach $88,000 by the end of the year, underlining the continued bullish sentiment towards the leading cryptocurrency.

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