In bitcoin's shadow, another cryptocurrency, Ether, stages its own rally

has captured the limelight in recent weeks as it surged to a new record high, yet another major cryptocurrency, Ether, has been enjoying its own meteoric rise.

These ETFs allow investors to profit from any change to the price of cryptocurrencies without having to buy them directly, while also letting them sell at any time.Bitcoin's rise has been well-documented, but Ether's has been even more impressive, surging almost 72 percent year to date in comparison to bitcoin's 61 percent rise.

"Ethereum has started to wake up as investors are anticipating a potential approval," Michael van de Poppe of MN Trading told AFP, adding that"people are rotating from Bitcoin to Ethereum as a potential investment opportunity."Beyond the ETF effect, the digital currency dreamed up by Russian programmer Vitaly Buterin has several other cards up its sleeve.

"Bitcoin’s primary use is as store of value, while Ethereum has much more potential use cases," Peters told AFP. James Butterfill said there is"increasing optimism" that a"Dencun" upgrade will"go without a hitch," which would reinforce the currency's credibility.

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