Traders are doubtful that the price of Ethereum (ETH) will decline following the launch of a spot Ether ETF, similar to the situation with Bitcoin (BTC). “I think the likelihood of selling here after the ETH ETF is lower than after the BTC ETF,” explained trader Matthew Hyland. He pointed out that unlike Ether, Bitcoin did not experience a price decline in the period leading up to the approval of Bitcoin spot ETFs. 😕

Ether was down 15% in the two-month period through May 20, before reports emerged that the SEC might change its stance on ETF approval. Ether then skyrocketed 29% shortly after the news.

However, there are concerns about Grayscale's plans to convert its Ethereum Trust (ETHE) into an ETF, which could lead to selling pressure and price impact.