The long-awaited and delayed spot Ethereum ETFs were finally launched on July 23. But the focus is not just on Ethereum (ETH). Some altcoins with core features based on the Ethereum Blockchain may also benefit from this development. Here are three altcoins that could gain from ETH ETFs, including UNI coin:

Uniswap (UNI coin): A Strong Correlation with Ethereum

Uniswap is known as the largest decentralized exchange for exchanging cryptocurrency tokens through liquidity pools on Ethereum and therefore has a strong correlation with Ethereum. According to data from Macroaxis, UNI's correlation coefficient with ETH is high. This puts UNI among those who expect to be positively impacted by the spot Ethereum ETF launch. UNI is currently trading at $7.57. The fact that it has decreased by 21.31% since the beginning of the month may present an opportunity to buy at the bottom level. Additionally, major crypto whales have been accumulating UNI recently, showing confidence in its bullish potential. Awesome Oscillator (AO) with green histogram bars indicates that bullish momentum may begin. If ETH performs poorly, UNI may not rise, in which case the price of the token may decline to $6.76.

Pepe (PEPE): A New Ascension Threshold

Pepe (PEPE), one of the most popular meme coins built on Ethereum, recently broke out of a falling channel formation. This formation shows a downtrend with certain resistance and support levels. The Accumulation/Distribution (A/D) line shows that buying pressure is increasing and the Relative Strength Index (RSI) is above 50, indicating that bullish power is present. If ETH rallies towards the $4,000 level, PEPE could likely show a strong performance and retest $0.000015 to start with.

Ethereum Name Service (ENS): Will It Reach $34?

ENS showed positive signals regarding the approval of spot Ethereum ETFs. According to Bitwise Invest's announcement, ETF issuers will be the first ETF to add ENS subnames for each address. This can provide transparency in verifying assets by increasing the use of Ethereum Name Service. However, the impact of ETFs on altcoin prices may not be immediate and this process can take six to nine months.

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