🚨 Crypto news 🚨

• The launch of the long-awaited Ethereum ETF led to a sell-off and a drop in the price of ETH.

• According to 10x Research, this repeats the scenario with previous crypto ETFs, including Bitcoin.

• 10x Research founder Markus Thielen noted that traders expected inflows but missed out on billions in outflows from Grayscale.

• ETH fell 8% over the past 24 hours, stabilizing around $3,181.

• Investors are switching to Solana, which could add pressure on ETH.