Ethereum ETFs were anticipated to bring stability to the price of Ethereum. However, contrary to expectations, ETH has experienced an 8% decline. This downturn raises questions about the effectiveness of ETFs in stabilizing the volatile cryptocurrency market.

Market analysts suggest that while ETFs can provide more accessibility and legitimacy to Ethereum, they may not be sufficient to counteract broader market trends and investor sentiment. The recent price drop indicates that other factors, such as macroeconomic conditions and regulatory developments, continue to play a significant role in influencing Ethereum's price movements.