Market sentiment!!!
What next after Ether ETF approval?
Following the approval of ETH ETFs, Balchunas anticipates a similar scenario to what occurred with Bitcoin (BTC) ETFs. The analyst described it as a "carbon copy horse race" where the same issuers would launch on the same day.
Despite their potential similarities to BTC ETFs, Balchunas believes ETH ETFs may have less volume.
“I would expect a lot of similarities, except I would divide everything you've seen with Bitcoin by about 10. So you'll have maybe $1 billion or 2 in the first few weeks in total. I just don’t see those being that big.”
While the analyst doesn't think ETH ETFs will be as big as Bitcoin ETFs, Balchunas said traders could make interesting moves. “You could see people short the ETF and buy ETH because you can stake it.”
Meanwhile, Sigel, who works with one of the ETF issuers, said they will go out there and make a "very strong investment case" for Ethereum. The VanEck executive highlighted that they have been working with their team to find the ideal mix of Bitcoin and Ethereum and will release their analysis soon.
“Now that the US has approved it, I think other countries around the world, whether it's the UK, Singapore, Japan, or the Middle East like Dubai, will all be looking at, 'well, we need to have our own version of this ETF in sight. .'”
Can we have corrections in the market?
Yes we can more;
With falling interest rates coupled with this new S.E.C.
Soon we should go up a lot!!!
