Odaily Planet Daily News Cryptocurrency trader Matthew Hyland said in an article on May 24: "I think that the Ethereum spot ETF (approved for listing) is less likely to see a sell-off than the Bitcoin spot ETF," he pointed out that unlike Ethereum, Bitcoin did not experience a price drop in the period before the SEC approved the spot Bitcoin ETF on January 10. "There was no pullback in the months before the approval of the Bitcoin ETF. When the Grayscale Bitcoin Spot ETF was listed the next day, the selling pressure began. According to Farside data, GBTC has seen a net outflow of $17.6 billion since the launch of the spot Bitcoin ETF. As of May 20, Ethereum fell 15% in two months until reports that the U.S. SEC may have shifted its stance to approve the ETF. Shortly after the news came out, Ethereum soared 29% in three days. Although there are concerns that Grayscale plans to convert its Ethereum Trust (ETHE) into an ETF, which may lead to selling pressure and price impact. "A key similarity is that both have Grayscale products. Grayscale ETF caused selling pressure on Bitcoin, and the same may happen to Ethereum ETF once the product is launched," Hyland said. (Cointelegraph)