Binance evaluated the market reactions regarding the US Securities Exchange Commission (SEC) approval of spot Ethereum ETFs. The blog post stated that this development could significantly affect the price of the leading altcoin Ethereum and the overall cryptocurrency market. However, the market soon began to decline after the first day excitement, with the Ethereum price falling by more than 7 percent to $3,190.
Binance analysts predicted that Ethereum ETFs could also increase the ETH price by increasing demand, with a similar trend observed in Bitcoin ETFs. With the increasing demand for Ethereum from institutional investors, a significant rise in prices is expected. However, analysts emphasized that the lack of staking feature in ETFs could pose a problem. It was stated that due to SEC regulations, ETF investors cannot stake their ETH, which may encourage more knowledgeable investors to directly purchase and stake Ethereum.
Binance CEO Richard Teng stated that participation in Ethereum ETFs can provide a stable capital flow over time, but there may not be large inflows initially, and macroeconomic factors may affect this flow. Ethereum ETFs are generally expected to be preferred by long-term-minded institutional investors.
In summary, according to Binance's analysis, it is emphasized that Ethereum ETFs can significantly affect the market and a large increase in ETH prices is expected, but the lack of staking feature may limit this demand. In the long term, a stable capital flow is expected to be achieved with the participation of institutional investors. This development could be a major turning point for Ethereum and the overall cryptocurrency market.
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I EXPLAIN IN DETAIL.
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