Although Grayscale has withdrawn its application for Ethereum futures ETFs from the US SEC, Grayscale CEO emphasized that the company will focus on Ethereum spot in the future. This is quite interesting.
Therefore, before Ethereum ETFs are approved, there is no new liquidity injection, and there is no new narrative. It is difficult to get out of the independent market, and the overall sentiment is relatively depressed.
Although in the medium and long term, the current position is low, and the medium and long term continue to be spot in batches, but there is no expectation in the short term. The short term is still dominated by big cakes, and the trend still follows the big brother. It will take time for the real strong period to come. When the auntie starts to strengthen, we will consider shifting our focus to Ethereum in the later stage.
As for the approval of Ethereum spot ETFs, I believe it will definitely pass. It’s just a matter of time. Let time verify it.
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