According to TechFlow, cryptocurrency trading company QCP Capital released a report indicating that the first week's trading of the spot ETH ETF was very similar to that of the BTC spot ETF when it was released. The price of ETH fell from a high of $3,563 to a low of $3,086.

QCP Capital analyzed the reasons for this phenomenon, mainly including Grayscale's high fees leading to continuous capital outflows, and the classic "buy on hype, sell on good news" behavior in the cryptocurrency market.

The report also pointed out that unlike BTC, ETH is a relatively abstract concept for the traditional financial community and it will take time for it to become more popular. In addition, the lack of a staking function also reduces investors’ motivation to buy spot ETH ETFs.

In the options market, QCP Capital said that BTC unexpectedly became the focus this week. The market was full of expectations for Trump’s upcoming speech, and the implied volatility of options rose sharply.

The firm also suggested several trades, including a bullish strategy betting on BTC to reach $72,000 on August 2 expiration.