Regarding ETH ETF, some research opinions believe that:
a. Selling pressure: Grayscale Ethereum Trust (ETHE, $9.2 billion), with a fee rate of 2.5%, will still bring early migration selling pressure, but it will be less than the impact of GBTC outflow;
b. Stock market purchasing power: The public consensus on Ethereum is far weaker than Bitcoin, resulting in fewer buyers;
c. Crypto purchasing power: The lack of 3%-5% basic staking yield on the ETH chain makes demand basically non-existent;
d. Long-term view: Ethereum ETF paves the way for other crypto assets to integrate into the mainstream world;
The cumulative trading volume of ETH spot ETF on the first day of listing on the US exchange exceeded $1.019 billion, of which Grayscale Ethereum Trust (ETHE) led with a trading volume of $456 million, accounting for nearly half of the total trading volume. The trading volume of BlackRock Ethereum Spot ETF (ETHA) was $240 million, accounting for 24%, and the trading volume of Fidelity Ethereum Fund (FETH) was $136 million, accounting for 13%.
