The silent monster is coming 😈
Ethereum (ETH) ETF will start trading in a week 📢
Yesterday, all Ethereum ETF applicants filed updated S-1 forms.
Currently, Ethereum is trading around $3,000, and has pared back all of its ETF approval gains.
Here's why ETH is ready to go 🕰️
➜ Ethereum supply on exchanges is at its lowest level in 8 years
➜ Ethereum has been deflationary since the merger
➜ Mt. Gox, the German government, and the US government do not own any Ethereum
➜ No constant selling pressure from miners since switching to Proof of Stake (POS) system
Besides, all major developments such as decentralized finance (DeFi), non-fungible tokens (NFT), and digital real-world assets (RWA) mainly happen on the Ethereum network.
The smart money is already accumulating Ethereum as 335,000 ETH worth $1.03 billion was withdrawn from Coinbase last month.
Currently, the sentiment towards the Ethereum ETF is not close to that of the Bitcoin ETF, meaning that any significant inflow will lead to a significant rise in the value of Ethereum.