After the Ethereum spot ETF succeeded in "breaking through", the price of ETH fell after a brief rise. At the same time, potential selling pressure on Grayscale, which owns millions of ether coins, has also caused market concerns. However, judging from the outflow of funds from GBTC, its selling pressure has been absorbed by other Bitcoin ETFs and has not had much impact on the price of Bitcoin.
Original author: Nancy
Original source: PANews
In the early morning of May 24, as the 19B-4 forms of eight Ethereum spot ETFs were approved by the US SEC, it was only a matter of time before they were listed for trading. After the Ethereum spot ETF succeeded in "breaking through", the price of Ethereum fell after a brief rise. At the same time, potential selling pressure on Grayscale ETHE, which owns millions of ether coins, has also caused market concerns.
It will be listed in June at the earliest. The scale of attracting funds is limited due to the lack of pledge mechanism.
According to Bloomberg ETF analyst James Seyffart, S-1 approval for the Ethereum spot ETF may be completed in "a few weeks" or may take longer, with the process typically taking up to five months. Judging from the fact that there will be a two-week round of comments on the S-1 amendment document (similar to the feedback provided by the SEC for spot Bitcoin ETF applicants), mid-June is definitely possible.
