The second half of the bull market is the real performance moment for the copycats. Will the positive turn into negative after the launch of ETH ETF tonight?
Ethereum spot ETF has been fully approved and is expected to be officially opened for trading when the U.S. stock market opens at 21:30 on July 23, Beijing time.
After the approval of Bitcoin ETF, its price experienced a process of first falling and then rising. Therefore, many people predict that after the Ethereum ETF starts trading, the price of ETH may also fall first and then rise, and start to cut the boat to find the sword.
After the Bitcoin ETF started trading, the reason why the price of BTC fell was mainly because Grayscale's management fees were too high, causing institutional users to change positions. Now, the handling fee of Grayscale's mini Ethereum ETF has dropped to 0.15%, and the degree of user position change will be greatly reduced. Therefore, the possibility of a sharp drop in Ethereum is very small, but there may still be a callback.
ETH ETF can refer to the trend characteristics of BTC. After passing, it may first crash the market. The market ups and downs are a healthy performance!
