Big event in the cryptocurrency circle! Ethereum spot ETF will be officially traded at 9:30 tonight, but Ethereum is falling instead of rising? What is the reason?
According to a Bloomberg analyst, the Ethereum spot ETF has been approved by the SEC and will be traded at 9:30 tonight Beijing time. The game officially begins.
Coinbase, the largest cryptocurrency exchange in the United States, is the largest partner of Ethereum spot ETF. Coinbase has risen by nearly 3% before the market.
However, the passage of Ethereum spot ETF is a milestone, and it does not seem to bring a pull-up effect to Ethereum. In the early morning, it fell to $3,422. The current price has rebounded to $3,515.
Will it fall first and then rise all the way to break through the previous high like the Bitcoin ETF did at the time? Let's wait and see.
I have put the detailed fee details of the 9-tier Ethereum spot ETF in the figure below.
In general, it is good to have funds flowing into the market. The new capital flowing into Bitcoin through ETFs will increase the market value of cryptocurrencies by 46% in 2024. This time, the Ethereum ETF will further expand the overall market.
