Grayscale Analyst: Ethereum's rise on Wednesday indicates that the market has finally shifted towards ETH-centric trading

Ethereum broke through its annual high in the early morning, rising to around $2450. Matt Maximo, senior research analyst at Grayscale Investments, said that Ethereum's rise on Wednesday indicates that the market has finally shifted towards ETH-centric trading. However, this situation may not fully emerge until a proper regulatory approval is obtained for Bitcoin ETFs in the US spot market. The on-chain activity of Ethereum remains very strong, so I believe it's not a matter of 'if' but 'when' Ethereum will catch up.