On July 22, BRN analyst Valentin Fournier said that the price of Ethereum may fall immediately after the launch of the Ethereum ETF spot trading. He said, "Ethereum may face huge selling pressure at the beginning of this week, and the launch of the ETF may not be able to offset this pressure immediately." Therefore, Ethereum may face selling pressure on the day of the ETF launch, and then gradually recover. According to Deribit data, the put/call ratio has soared to 1.45. This shows that the number of put options is higher than that of call options, indicating that traders expect an immediate decline or are seeking to hedge against price declines.