Sell the news #ETHETFS actually happened
Realized profit of Ethereum holders from $144.6M on July 21 to $747.3M on July 22.
* Realized Profit is the Profit recognized for a completed transaction
But you know, you can buy little fish so the profit cannot be that high, only wallets that have been held for a long time can have such huge profits.
- Wallet holding $ETH for more than 1 year saw profits skyrocket from $92.7M to $666.2M
- Wallet holding $ETH for more than 6 months -> 1 year has profit increased by $3.96M to $577.6M
- And wallets holding between 10k and 100k ETH earned $626,982M in profit on July 22.
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Why are they selling $ETH:
- Convert to ETF: ETF has regulatory oversight and transparency, reducing risk compared to holding ETH directly. This is important for the big guys.
- Tax incentives: ETFs help save costs
- High liquidity: For large investors, the ability to quickly liquidate ETH without significantly affecting the market price is a great advantage.
You guys are probably most interested in the third one, every time I hear about someone transferring $ETH to the exchange or going somewhere to distribute it, I'm a little worried about them selling it.
But an ETF launched like this will certainly fluctuate in the short term because it depends on the performance of ETF investors (those who buy shares of the ETF).
But gradually, if they switch largely to ETH ETF, ETH price may become more dependent on the performance of ETFs. Because if there is a problem with an ETF, it can affect the price of ETH -> And this is public on strictly regulated stock exchanges.
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