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The Impact of Ethereum ETFs on the Crypto Market
2024-07-31 05:50:09
Blockchain
Markets
Stocks

The Impact of Ethereum ETFs on the Crypto Market

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The approval and launch of Ethereum ETFs by the SEC has garnered significant attention in the crypto market. Analysts predict billions in inflows and believe that Ethereum ETFs will not cannibalize Bitcoin ETFs, but may actually accelerate their growth.

Key players such as Grayscale, BlackRock, and Fidelity have entered the Ethereum ETF space. Trading volumes in the first few weeks will be closely watched as an indicator of real demand.

Spot Ethereum ETFs have already seen impressive trading volume, surpassing $1 billion on the first day of trading. Experts expect Ethereum ETFs to attract monthly net inflows of up to $1 billion.

There is also speculation that Ethereum ETFs could potentially allow staking in the future. Despite the approval of Ethereum ETFs, the price of Ether has remained sluggish, potentially due to external factors such as elections and Mt. Gox selloffs.

Overall, Ethereum ETFs mark a significant development in the crypto market, but risks and challenges remain, particularly in terms of self-custody and the decentralized nature of cryptocurrencies.

Related news on that topic:

Cryptocurrency Market Update: Bitcoin and Solana Facing Pressure ... Major Losses

Bitcoin experiences a 5% drop as $2 billion in BTC is shifted by US Marshals, with Solana's SOL leading losses at 6%. Market optimism fades without new drivers, potentially increasing volatility due to central bank decisions. Newly-launched ETH ETFs see $97 million in outflows. Bitcoin faces risks of liquidations below $64K, with Grayscale introducing a Bitcoin Mini Trust and GBTC observing outflows. Analysts warn of long liquidations as BTC hovers below $66K. Solana's SOL surges but questions arise over its peak at $193, facing resistance at $190 and correcting to $179. Concerns over Solana's valuation arise amidst stagnating TVL, while Ethereum struggles against key resistance at $3,500. ETH faces downside pressure compared to BTC and other layer-1 tokens, with Solana gaining market share.

Cryptocurrency Market Volatility Amid U.S. Government Pressure

Bitcoin and Ether prices decline as U.S. government-related selling pressure emerges. Bitcoin sees a 5% drop, while the broader crypto market dips 3.5%. Outflows recorded in Ether and Bitcoin ETFs post-Trump speech enthusiasm wanes. Grayscale reports a substantial $20.4B outflow from its spot Bitcoin and Ether ETFs. Trump's crypto pledges could tie BTC price to election outcomes. Analysts caution of market unpredictability ahead of the FOMC meeting and job data releases. QCP Capital maintains a cautious outlook. The shifting dynamics hint at an uncertain period for the cryptocurrency market.

The press radar on this topic:

The Street
31. Juli 2024 um 12:46

The most important thing to watch when Ethereum ETFs start trading

Finance
Cryptocurrencies & blockchain
Ethereum ETFs approved by SEC, set to begin trading; analysts predict billions in inflows; Bitwise CIO Matt Hougan believes ETH ETFs will not cannibalize Bitcoin ETFs, may accelerate their growth; Bloomberg analyst James Seyffart to watch trading volumes over first weeks as indicator of real demand; Grayscale, BlackRock, Fidelity among key players; Bitcoin ETFs attracted $15 billion in 5 months; Seyffart estimates Ethereum ETFs may attract one-fifth of that.
The Street
31. Juli 2024 um 18:46

Ethereum ETFs surpass $1 billion in volumes on first day of trading

Finance
Cryptocurrencies & blockchain
Spot ethereum ETFs launched in the U.S., garnering over $1 billion in trading volume on the first day. Wall Street issuers like BlackRock, Fidelity, VanEck, Bitwise, and 21Shares unveiled the new funds. Crypto experts Sergei Gorev and Pat Doyle commented on the distinct value propositions of bitcoin and ethereum. Analysts Alice Liu and James Seyffart provided insights on the initial market reaction and the use of trading volumes as a proxy for demand. The launch of spot ethereum ETFs follows the..
The Street
31. Juli 2024 um 14:46

Spot ether ETFs begin trading, analysts predict up to $1 billion in monthly inflows

Finance
Cryptocurrencies & blockchain
Coinbase Institutional, custodian for most bitcoin and ethereum ETFs, says spot crypto ETFs signal transition to digital assets.
The Street
6. August 2024 um 21:45

Why Ethereum could finally be setting up to rally off new ETF launches

Finance
Cryptocurrencies & blockchain
New Ethereum ETFs saw $340M outflows, but analyst expects Ethereum to rally like Bitcoin did after its ETF launch, as Grayscale's Ethereum Trust (ETHE) outflows slow. Fundstrat's $7,000 price target for Ethereum on a multi-week time frame. Bitcoin ETF launch and Grayscale's Bitcoin Trust (GBTC) outflows also discussed. Upcoming Fed policy meeting and potential rate cuts mentioned. Analyst comments from Coinage interview.
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