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Ethereum Is More Correlated To Stocks Than Bitcoin: IntoTheBlock

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While crypto has long been highly affected by the broader financial market, the price of Ethereum appears especially impacted by its movements.

A larger discrepancy is found with both the S&P 500 and tech-focused Nasdaq 100. ETH’s correlations to both indexes are 0.77 and 0.7 respectively, versus Bitcoin’s 0.56 and 0.44 correlations. The event has enabled roughly $12.5 billion worth of inflows to the asset through the new investment vehicles, which provide access to the asset previously unavailable to many institutional funds.

 

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