Analysts called the market's reaction to the launch of the ETH-ETF "restrained

The approval of spot Ethereum ETFs had a "restrained" impact on the market, as investors expected the implementation of the "buy on rumors, sell on news" scenario. This was stated by analysts at QCP Capital.

Experts recalled that after the launch of similar products based on bitcoin, its price fell from $46,000 to $ 38,000, but two months later reached record values.

QCP Capital drew attention to the recent transfer of 42,587 BTC (~$2.85 billion) by the Mt.Gox exchange, as well as the sending of 58.74 BTC (~$3.96 million) to the Coinbase Prime exchange from the address of the US government.

"Since spot ETFs-ETH probably did not affect prices from the very beginning, combined with potential pressure from the authorities of the United States and Mt.Gox, quotations may remain low until the pre—election momentum gains momentum," analysts noted. 

While spot prices remain low, the options market paints a different picture. According to QCP Capital, the estimated volatility as of July 26 increased by 8%, while the risk-to-profit ratio decreased by 3%. This indicates the caution of investors and a possible correction.

https://forklog.com/news/nachalis-torgi-etf-etf-kurs-okazalsya-pod-umerennym-davleniem

Bloomberg stock analyst Eric Balchunas said that the Ethereum-ETF will still benefit the market.

Regardless of your feelings about ether or crypto, this kind of first class TradFi treatment (translating benefits into Boomer-ese and and delivering it in the most preferred inv vehicle on Planet (the ETF) is a major deal. These issuers have over $15T in collective aum. pic.twitter.com/uXR1AL1BxX

— Eric Balchunas (@EricBalchunas) July 22, 2024  

"Regardless of your attitude to ETH or cryptocurrency, this is a first—class approach to TradFi. [...] Issuers of [spot funds based on the second largest cryptocurrency by capitalization] have more than $15 trillion in total assets under management," he stressed.

Earlier, Jeffrey Kendrick, head of research at Standard Chartered, allowed a new stage for exchange-traded funds in 2025. In his opinion, SOL and XRP are next in line.

Recall that on July 8, Cboe BZX filed Form 19b-4 for the 21Shares Core Solana ETF and VanEck Solana Trust. According to Balchunas, the tool may appear in mid-March 2025.