The ETH/BTC ratio has seen some growth in the last week.
ETH’s trading activity has climbed to multi-month highs following the BlackRock Ethereum ETF application.
The Ethereum [ETH] to Bitcoin [BTC] ratio climbed to new highs last week after asset management giant BlackRock filed for an exchange-traded fund (ETF) for Ethereum.
The ETH to BTC Ratio, which measures the relative performance of ETH against BTC, spent the last year in decline. This underlined the steep fall in the values of ETH and the general altcoin market.
Crypto research firm Kaiko, in a new report, found that the ratio:
“Has trended downwards ever since The Merge, even though ETH underwent another successful upgrade in April.”
However, sentiments improved greatly after the news of BlackRock’s filing became public, causing the ratio to witness a reversal. At 0.05607 as of the 13th of November, the ETH to BTC Ratio increased by 10% since the application was made on the 9th of November.
Source: Kaiko
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