Big investors are turning their attention to Ethereum, according to JPMorgan analysts.
Bitcoin futures have witnessed weak demand as BTC futures have traded below spot prices.
Ethereum futures premium rose 1%, which shows a strong divergence in demand from the leading cryptocurrency.
Institutional investors have been increasingly pivoting from Bitcoin to Ethereum since August as demand diverges to the second-largest cryptocurrency by market capitalization. JPMorgan analysts stated that the leading digital asset suffered a setback as BTC futures traded below the actual price of the crypto asset.