TechFlow news — Bitwise has released a new correlation analysis as part of its latest filings for a spot Ethereum ETF. The analysis replicates the specific methodology used by the U.S. Securities and Exchange Commission (SEC) when evaluating Bitcoin.
For hourly correlations, the correlation values differ by only 0.2% across the entire sample period; for five-minute correlations, the difference does not exceed 5%; and for one-minute correlations, the maximum difference is 8%.
The results indicate a strong correlation between the spot ETH market and the CME ETH futures market, at levels broadly similar to those cited by the SEC in its analysis supporting the approval of spot Bitcoin ETFs. This analysis is included in a new 19b-4 filing submitted today by NYSE Arca seeking approval to list Bitwise’s spot Ethereum ETF.
