ChainCatcher news, Grayscale Research said in its latest article that in June, sustained and expected selling pressure from various sources put pressure on Bitcoin and the broader cryptocurrency market, including the Mt Gox bankruptcy estate, the United States The government and the German government sold Bitcoin, as well as the outflow of funds from the US spot Bitcoin ETP.

However, it believes the fundamentals of the asset class have not changed significantly. There seems to be more progress being made with the listing of a spot Ethereum ETP. While the exact timing is uncertain, Grayscale Research believes the products will begin trading in the third quarter of 2024. Unless the macroeconomic outlook changes significantly, cryptocurrency valuations are expected to recover in the coming months.