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Ether Is on Pace for Its Worst Week in Years

Ether is deep in the red this week after the Securities and Exchange Commission delayed making decisions on the applications filed by BlackRock and Grayscale Investments to launch exchange-traded funds holding the second-largest cryptocurrency.

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Ether was recently down 9.5% this week, on the pace for its worst weekly performance since the week ended Aug. 18, 2023, when it fell over 10%, according to Dow Jones Market Data.

  • Bitcoin is only down about 0.9% this week.

Ether initially outperformed bitcoin after the SEC approved spot bitcoin ETFs earlier this month. Traders loaded up on the token, betting that U.S. regulators would approve spot ether ETFs this year.

Image: Ether