The post Ethereum Price Prediction As Early Data Rolls In From Spot ETH ETFs appeared on BitcoinEthereumNews.com.

DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . The spot Ethereum ETFs are now live and early data has started to trickle in.  As per the latest reports from Bloomberg analyst Eric Balchunas, the ETFs are seeing impressive volume, recording nearly $600 million in three and a half hours. Balchunas projects them to record a cumulative volume of over $1 billion today, nearly 20% of BTC’s day-one figures.  HALFTIME: Nearly $600m so far, putting them on pace to hit $1b and change by EOD which would be about exactly 20% of the $4.6b that bitcoin ETFs did on Day One, which would nail our prediction. Re flows: that data comes tonight and tmrw night, but if we assume $ETHE volume is… pic.twitter.com/6DhQ1ylDhl — Eric Balchunas (@EricBalchunas) July 23, 2024 Compared to a normal ETF launch, every issuer has already exceeded expectations, with Grayscale, BlackRock and Bitwise leading the pack. If BlackRock’s $ETHA records over $200 million in daily volume today, it would have exceeded Balchunas’ estimates, painting a bullish picture for Ethereum.  Ethereum Price Prediction – How High Can ETH Go In A Year? Considering that the spot Bitcoin ETF launch was a major “sell the news” event, Ethereum is displaying strong resilience. While the Ethereum price has dipped nearly 3% since the ETF launch, it continues to hold above the $3400 price point. The bullish impact of the newly launched ETFs could start to appear two weeks from today if ETH follows BTC’s playbook. Similarly, the Bitcoin price reached a new all-time high nearly two months after the launch of its ETFs.  This could mean that the ETH price…

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Filed under: News - @ July 23, 2024 11:26 pm