19b-4 for Grayscale ETHE to ETF was also approved, in fact, this ETF cannot be completely regarded as a positive, because Grayscale ETHE will also smash the market. Currently, there are more than 3 million ETH in the Grayscale ETHE account, which is equivalent to more than 10 billion US dollars. If the current ETF with the pledge function castrated is not attractive to funds, it may be difficult to take up such a large selling pressure. Therefore, if the ETF is really listed, it will become the beginning of a super negative, which should be the real reason why the market fell so badly today.
Talk about recent hot events:
1. KABOSU, the prototype dog of doge, passed away today, and doge experienced a wave of ups and downs as a result.
2. Grayscale announced two new trusts: Grayscale Near Trust and Grayscale Stacks Trust. Congratulations to both of you for entering the mainstream blue-chip coin range. The inclusion of these two projects in the Grayscale Trust basically represents the mainstream's recognition and layout of the three tracks of DA layer, AI public chain and Bitcoin L2.
3. With the approval of ETH spot ETF, there will be hype about other crypto ETFs. For example, Skybridge Capital has begun preparing for the sol ETF, and Bloomberg also published an article yesterday saying that there is a great demand for the sol ETF.
Market Analysis
BTC: Bitcoin and Ethereum both experienced a fluctuation at 4 a.m. At present, Bitcoin has been supported at around 66,300 in this fluctuation. It will gradually stabilize and then re-enter the upward track. Ethereum will enter the main narrative stage next, and the positive news of spot ETFs will continue to ferment, so everyone should pay attention. In addition to the meme ai market in the past two days, RWA has started again. The market always rotates like this. At present, because it is not a crazy bull market, the funds in the market are limited, and there is no way to increase the market on a large scale. The only way is to rotate the sectors.
ETH: The ETF has passed half of the approval, and currently there is still one S-1 registration statement that has not been approved. According to the experience of Bitcoin, this takes two weeks. Of course, the S-1 review time for traditional ETFs is as long as 5 months. However, today's decline also makes us understand that even if this non-collateralized ETF is listed, there will be a huge market crash in the short term, because Grayscale ETHE now holds more than 3 million ETH, worth 10 billion US dollars. Most of the funds here may find it difficult to accept the reality of staking income, so the market crash is very reasonable.
In the following period, if there is a pullback, it is an excellent opportunity to get on board. In fact, I believe that many people will slowly come to terms with this truth, and then start to enter the market one after another. The market is a relationship of supply and demand. Many people did not believe that the Ethereum ETF would be approved before, and perhaps got off the train very early. When they see the real approval news, they will definitely find an opportunity to buy it back. In addition, the institutional brands I mentioned earlier will take over, so I personally think that the corresponding downward space for Ethereum is very limited! Therefore, although it is a positive landing of short-term speculation, this time is different from the last time the news of the big cake ETF was released. After all, the last time the news of the big cake ETF was released, its trading was opened!
In general, according to previous analysis, after the Ethereum ETF news comes out, Ether will fall back, this is certain, but judging from the current situation, the room for a fall back is relatively limited, and this fall back is also the last chance for everyone to get on board, so just intervene boldly, and secondly, pay attention to the flow of funds, seize the sector rotation, and improve the utilization rate of funds!
If you don't want to make too much trouble, just buy the Ethereum series without thinking. STRK, OP, ARB are deployed at low prices. Look at ETHFI. I strongly recommend the ENA project. When the market is good, this project is definitely one of the key projects. The landing of the Ethereum ETF news has undoubtedly laid the foundation for a wave of continued speculation in the market! Referring to the trend of Bitcoin rising from 40,000 to 7.4 after the landing of the Bitcoin ETF news, the expected high point of Ethereum will at least be above 5,000!
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.
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