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The no. 2 cryptocurrency, which commands less than a fifth of the $2.7 trillion crypto market, has not done poorly. But ether is up just around 53% in the first three months of this year, compared with bitcoin's 65%.Bitcoin scaled new peaks last month. Trading around $3,612 on Monday, ether is at least 26% below its Nov. 2021 all-time high of $4,867.60.
"Ethereum is persistently dogged by its lack of name recognition among non-endemic investors," said Joseph Edwards, head of research at London crypto firm Enigma Securities. Lawyers and industry sources have said ether's legal status is ambiguous and they expect regulators to move cautiously.Unlike bitcoin, ether is traded on a so-called 'proof-of-stake' blockchain that allows users to earn yield in exchange for locking up tokens for a period of time.
"Getting the SEC on board to allow staked ether ETFs will be a very tough bargain and is, for now, extremely unlikely," said Anders Helset, head of research at digital assets analytics firm K33
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