Ethereum’s ether token is stepping into the spotlight, stealing some thunder from its older sibling, bitcoin. As of today, June 11, 2025, market dynamics have shifted to favor ether, with volatility metrics reaching levels unseen since the dramatic FTX collapse of November 2022. This trend is sparking renewed interest and conversation within the crypto community, as investors and analysts alike ponder the implications for the broader market.
Ether’s Moment in the Sun
Data from TradingView reveals an intriguing development: the spread between Volmex’s annualized 30-day ether implied volatility index (EVIV) and bitcoin’s equivalent index (BVIV) has surged to 34%. This marks the highest spread since the FTX debacle, suggesting that traders are bracing for more dramatic price swings in ether than in bitcoin in the coming weeks. As explored in Why Bitcoin and Ethereum ETF Investments Are Diverging, this divergence is also reflected in the differing levels of ETF investments in the two cryptocurrencies.
Ether’s recent price gains are hard to ignore. In the past 24 hours alone, ether has leapt by 8% to $2,728, overtaking bitcoin, which saw a modest 1% increase, according to CoinDesk. Alex Kuptsikevich, chief market analyst at The FxPro, noted in an email, “Ethereum is pumping up with new money. Over the past two weeks, Ethereum ETFs have attracted $812 million, the biggest amount since the beginning of this year.”
Institutional Influx and Market Dynamics
The strong inflow into ether spot ETFs underscores a growing institutional appetite for the cryptocurrency. In contrast, bitcoin ETFs have managed to attract less than $400 million over the same period, according to SoSoValue. This divergence in capital flow highlights a shifting preference among investors towards ether.
Singapore-based trading firm QCP elaborates on this trend, pointing to several macroeconomic factors favoring ether. “Looking ahead, macro tailwinds are aligning for ETH. With the GENIUS Act advancing in the US Senate, Circle’s IPO discussions resurfacing, and stablecoins gaining regulatory traction, Ethereum’s native role in tokenization and settlement rails may be primed for outsized structural upside,” QCP noted in a market update.
Further evidence of the bullish sentiment around ether is seen in options trading. On Deribit, ETH call options are trading at a premium of at least 2% to 3% relative to puts, extending out to the March 2027 expiry. In stark contrast, BTC calls are trading at a more modest 0.5%-1.5% premium, according to Amberdata. This indicates that traders are willing to pay more for potential gains in ether compared to bitcoin.
The Road Ahead: Uncertainties and Opportunities
The ether market’s current state raises intriguing questions about its future trajectory. The surge in volatility and price gains could signal a paradigm shift, but it’s not without its uncertainties. The broader crypto market is notoriously unpredictable, and while ether’s current favor may continue, it’s essential to remain cautious. For a deeper analysis of ether’s price movements and potential support levels, see Will ETH Retest the $2K Support as Momentum Fades? Ethereum Price Analysis.
“ETH options markets have surged with 30-day call-skew hitting 6.24% and funding rates spiking to 0.009%, while the term structure of volatility has reinverted once more,” reported analytics firm Block Scholes. These metrics suggest a market brimming with potential, yet fraught with risk.
As we look towards the rest of 2025, the crypto landscape remains as dynamic as ever. Whether ether will maintain its momentum and continue to outperform bitcoin is a question that will keep investors on their toes. What remains clear is that ether is no longer in the shadows, and its role in the digital asset ecosystem is becoming increasingly pivotal. Only time will tell if this trend is here to stay, or if it’s just another chapter in the ever-evolving saga of cryptocurrency markets.
Source
This article is based on: Ether More Favored by Traders as Volatility Against Bitcoin Hits Highest Since FTX Crash
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
