What Caused Ethereum’s Price Drop?🧐🧐
On the final decision date for the VanEck ETF, the SEC granted approval to all eight pending Ethereum spot ETFs. 🚀
These investment vehicles enable investors to gain exposure to Ethereum’s price movements without directly purchasing the tokens.💸🔥
ETFs are a well-known financial instrument in traditional markets, allowing investors to bypass the complexities of crypto exchanges and wallets.
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The approval of Ethereum ETFs was anticipated, mirroring the process seen with Bitcoin spot ETFs earlier this year.🔥🔥
Historically, despite initial declines following approval, ETFs have driven substantial price increases for Bitcoin, reaching all-time highs (ATH). However, the Ethereum market reacted with a nearly 3% price drop, accompanied by broader market negativity.🔥🔥