🚨 Ethereum #ETF will start trading on July 23! It is expected that 5 billion to 10 billion US dollars will flow in in the months after the launch. I think this passage will ignite the altcoins 🔥, because the holders of BTC and ETH are different, and the capital spillover brought by the rise of ETH is more obvious.
Cboe official announcement: https://cboe.com/us/equities/notices/new_listings/details/?etf=true&firm_name=Franklin+Templeton&first_trade_dt=2024-07-23&ipo=true&symbols=EZET
【$BTC = Reserve Assets】
Holders are mainly a group of Crypto giants or traditional big money. After the rise, the funds will not spill over. People will only continue to hold or sell U, just like holding gold.
【$ETH =Reserves+Investment/Consumption Funds】
Most blockchain applications start with ETH, and after the holders are sure that the bull market is coming, they will actively consume this part of the funds, buy counterfeits, and participate in projects. The rise of ETFs will accelerate this action.
In other words:
BTC holders rarely play counterfeits because of the rise of BTC. Their funds are large enough and they can be regarded as government agencies, only making small profits with high certainty.
ETH holders will sell out and play counterfeits because of the rise of ETH. They are more like the middle class or VC in society. When their houses rise, they will actually consume and increase their expenses and investment.