[Kaiko: Spot Ethereum ETF may outperform Bitcoin after launch] Golden Finance reported that a new report from Kaiko showed that Ethereum may outperform Bitcoin after the much-anticipated Ethereum exchange-traded fund (ETF) is launched in the United States. The report pointed out that the current price ratio of Ethereum to Bitcoin is 0.05, which is higher than 0.045 before the Securities and Exchange Commission (SEC) approved the spot Ethereum ETF, indicating that the price of Ethereum is rising relative to Bitcoin. The report also emphasized that Ethereum's 1% market depth and exchange reserves are at multi-year lows, which may indicate that there will be a supply shock due to increased institutional demand, pushing ETH prices further up. According to forecasts, the spot Ethereum ETF may be launched before July 23, and institutional investors are expected to attract $10 billion in inflows at a rate of about $1 billion per month. Overall, Kaiko's analysis believes that with the launch of the spot Ethereum ETF, Ethereum may surpass Bitcoin in market performance.