Grayscale Investments’ establishment of a spot Ethereum ETF may create selling pressure on the Ethereum price.
Kaiko analysts say Grayscale’s Bitcoin fund After conversion to ETF within the first month decreased by 23% ($6.5 billion) told.
Analysts say that if the company’s Ethereum fund also turns into an ETF, an average of 110 million dollars per day He wrote that there might be an outflow of money. This amount is Ethereum’s 30% of daily trading volume on Coinbase corresponds.
Grayscale Ethereum Trust (ETHE) currently has approximately 11 billion dollars worth of assets are held.
ETHE, in the last three months net asset value It was traded at a 26% discount price against it. According to Kaiko analysts, if the fund turns into an ETF and the spread is closed, money will come out of the fund. “waiting, reasonable” It is possible.
Kaiko analysts still Amount of money entering spot Ethereum ETFs“even if it is disappointing in the short term [SEC’nin onay] decision on behalf of ETH as an asset important results exists and this has suppressed the performance of ETH in the last year legal uncertainties “It eliminates some of it,” he said.