The Ethereum ETF will decide its fate in a few hours. Although many people have been optimistic that the Ethereum ETF will be approved, there is a small concern that Grayscale may replicate the BTC spot ETF model and continue to ship out!
Grayscale holds 3 million ETH, with a market value of 11 billion US dollars and a management fee of 2.5%. Because early users have been trapped for 2 or 3 years and can finally sell, coupled with high management fees, there will be a huge sell-off in the short term. It is very likely to repeat the market situation two weeks after the BTC ETF was approved, when BTC fell from 48,000 to around 40,000.
Thinking about it this way, it doesn't seem very good. . .
