Some follow-up thoughts on whether the Ethereum spot ETF will be passed this Friday.

1. If the ETF is not passed, Ethereum may fall sharply or slowly based on reasons such as failure to pass or postponement.

2. If the Ethereum ETF is passed. The nearly 3 million ETH held by Grayscale will slowly flow into other ETF funds with lower handling fees. This will put short-term pressure on the price of Ethereum, but it is still optimistic in the long run.

3. If the Ethereum ETF is passed, various US funds, institutions and various long-term investors that allocate cryptocurrencies will allocate part of the funds originally allocated to Bitcoin ETFs to ETH ETFs. The price of BTC may be under pressure in the future.

4. If ETH goes out of the independent market, the L2 public chains that follow ETH will also have a better trend. But whether this means the arrival of altcoins, we need to pay attention.

5. If the ETF is passed, since the SEC does not agree to pledge ETH to lido and replace it with stETH. Therefore, Coinbase may still be the biggest beneficiary, to custody these ETH and collect custody fees. At present, the stock price of Coinbase has not skyrocketed. We can pay attention.