How billions in outflows from Grayscale could impact Ethereum ETF launch
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.
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Author: Robert D. Knight
