Big investors pivoting from Bitcoin to Ether futures: JPMorgan
Ether futures are currently trading at a premium as investors make the switch from Bitcoin-based products. American multinational investment bank JPMorgan has revealed that institutional investors are starting to shy away from Bitcoin futures in favor of Ether derivatives.In a note to investors on Sept. 22, analysts at the Wall Street bank said that Bitcoin futures on the Chicago Mercantile Exchange (CME) have traded at a discount compared to spot BTC prices during September.As a consequence, Ethereum-based products have grown in popularity as investors made the switch to the world’s....
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Global investment bank JPMorgan says institutional investors are returning to bitcoin, seeing the cryptocurrency as a better hedge than gold. The firm’s analysts describe three key drivers boosting the price of bitcoin in recent weeks, including assurances that U.S. policymakers will not ban cryptocurrencies.
JPMorgan Sees Renewed Interest in Bitcoin
JPMorgan published a research note Thursday stating that institutional investors are returning to bitcoin. Citing the trend of money flowing out of gold into BTC, the firm’s analysts wrote:
Institutional investors....