Outflows from the Grayscale Ethereum Trust (ETHE) could dampen the Spot Ethereum ETF approval party but create significant opportunities for traders.
In a surprise for markets, the U.S. Securities and Exchange Commission (SEC) approved eight spot Ethereum ETFs on May 23, leading to a wave of positive sentiment.
But perhaps even more surprisingly, the Ether (ETH) price barely reacted to the news.
Before the SEC announcement on May 23, the price of Ether was $3,742.31. It rose to $3,959.28 on May 27 before falling to $3859.39 on May 28. A consistent bull run has yet to emerge.
