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ETH big news! ETFs and price action?
Although the impact of the ETH ETF news is gradually weakening, the positive expectations for the future are strong and can provide support for the price of ETH.
After the ETF becomes tradable, it withstands gray selling pressure, and ETH may achieve a big price jump like BTC.
The report states that the ETH ETF will see net inflows of $3 billion through about half a year by the end of the year.
Bitcoin ETF's net inflow of US$12 billion in half a year also absorbed Grayscale's outflow of US$20 billion, with the total scale exceeding 50 billion. Ethereum's existing ETF scale is nearly 12 billion, and if the net inflow is 3 billion by the end of the year, it will reach 15 billion.
New funds after the adoption of ETF may trigger big gains.
Data shows that the amount of ETH on exchanges dropped significantly from May 23 to June 2, with the percentage of its circulating supply reaching its lowest level.
Exchange reserves have declined, and the effect of new demand has been more significant.
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