Bitwise releases spot Ethereum ETF correlation analysis: The analysis results are very similar to those in the U.S. SEC's approval order for a spot Bitcoin ETF

Golden Finance reports that Bitwise has released a new correlation analysis as part of its new spot Ethereum ETF filing. This is the first Ethereum correlation analysis to replicate the specific method used by the U.S. Securities and Exchange Commission in evaluating Bitcoin, with encouraging results. Throughout the sample period, the difference in hourly correlations was only 0.2%, five-minute correlations differed by 5%, and one-minute correlations differed by 8%. To replicate the specific method used by the U.S SEC in evaluating Bitcoin, Bitwise's research employed the following methods: same sample period length: ~2.5 years; same intraday correlation intervals: 1 hour, 5 minutes, and 1 minute; same markets Coinbase/Kraken vs CME; same correlational statistics - Pearson's correlation of log returns; same three-month rolling window minimum/maximum analysis. We believe that these results show a strong correlation between ETH spot market and CME ETH futures market, similar to what was found in US SEC’s analysis for spot Bitcoin ETF approval order. The analysis is included in a new Form19b-4 filed today with NYSE Arca seeking approval to list Bitwise's Spot Ethereum ETF.