The post the spot ETH ETFs arrived at the wrong time appeared on BitcoinEthereumNews.com.

The spot Ethereum ETFs were launched on the US exchanges in the second half of July, but the price of ETH did not benefit from it. Instead, a few weeks after the launch of spot Bitcoin ETFs, in January, the price of BTC began to rise significantly.  The comparison between ETH and BTC: the spot Ethereum ETFs are not going as hoped The Bitcoin spot ETFs on the US exchanges were launched on January 11, 2024.  At that moment the price of BTC was above $45,000, but just about ten days later it had fallen below $40,000.  Two factors weighed heavily. The first was the expected “sell the news,” after the rise above $45,000 prior to the launch, while the second was the unexpected large liquidation of BTC by the Grayscale fund (GBTC) which became an ETF.  However, a month after the launch, the price of Bitcoin had returned above $45,000, and from that moment within another five weeks, it rose to record new all-time highs above $73,000. The spot ETFs on Ethereum on the US exchanges were launched on July 23, 2024. At that moment the price of ETH was above $3,400, but within two weeks it had fallen below $2,400. Even on this decline, the same two factors as before weighed in, namely the sell-the-news and the sales of the Grayscale fund (ETHE).  In the second half of August, the price of ETH indeed attempted a rebound, even rising above $2,800, but starting from Monday the 26th, it began to fall again. Not only did it drop below $2,400, but on Friday, September 6, it briefly fell even below $2,200. The trend of ETH price in 2024 The difference between the two parabole is clear, so much so that at this moment even the general performance of 2024…

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Filed under: News - @ September 18, 2024 11:21 am