Odaily Planet Daily News Kaiko Research pointed out that the approval of the spot Ethereum ETF eliminates regulatory uncertainty and has a positive impact on the long-term growth of Ethereum. Although there may be short-term resistance, the approval shows that the SEC implicitly regards Ethereum as a commodity rather than a security. However, Kaiko also predicts that Grayscale's ETHE fund may experience capital outflows, and the influx of new funds may have an impact on the market. At the same time, for the Ethereum ETF in Hong Kong, although it was launched, its performance was mediocre, reflecting that there is still uncertainty in the market about the impact of ETHE redemptions.