QCP Capital: ETH spot ETF's first-day performance was below expectations, but we remain optimistic in the long run
On July 24, QCP Capital posted on its official channel that the net inflow of the US ETH spot ETF on the first day of trading was $107 million, far lower than the $655 million net inflow of the BTC spot ETF on the first trading day, mainly due to the net outflow of $484 million from Grayscale ETHE. Although the ETH market has encountered challenges, the agency said it remains optimistic for now. BTC set a new all-time high two months after the launch of the ETF, which is a convincing precedent. Institutional interest is expected to continue, and the price of ETH may gradually approach its all-time high. ETH volatility is expected to decline over the weekend.
