Bitwise releases spot Ethereum ETF correlation analysis, which is basically similar to the results of the SEC’s approval order for spot Bitcoin ETF
Bitwise has released a new correlation analysis as part of its new Ethereum ETF filing. The analysis replicates a specific method used by the U.S. Securities and Exchange Commission when evaluating Bitcoin.For hourly correlations, the correlation value for the entire sample period differed by only 0.2%, for five-minute correlations, the difference did not exceed 5%, and for one-minute correlations, the difference was at most 8%.The results show a strong correlation between the ETH spot market and the CME ETH futures market, which is similar to the analysis results of the SEC's approval of the Bitcoin spot ETF. The analysis is included in the new 19b-4 submitted today to the New York Stock Exchange Arca to seek approval for the listing of Bitwise's Ethereum spot ETF.
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