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Crypto markets are facing extreme volatility.
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The $ETH ETF inflows are enormous with more than $1bn volume
Why is the price of $ETH not skyrocketing?
We just saw a very successful first day of trading!
Let's dive into the details:
Comparing to $BTC ETFs:
Ethereum ETFs: Reached 23% of the $BTC ETFs' trading volume on their launch day. More than expected!
Despite this, $ETH ETFs still outperformed the average ETF launch by a significant margin.
Positive Market Reception:
Performance: All $ETH ETFs performed well without any major issues or pricing discrepancies.
Even the lowest performing $ETH ETF saw substantial trading volume, underscoring strong market interest.
Grayscale Outflows:
Market Shift: Significant outflows with -484.9m USD from Grayscaleโs $ETH trust were observed.
But these were more than balanced by inflows into the new $ETH ETFs, showing robust investor enthusiasm for the new offerings. These outflows will most likely put pressure on the price of ETH in the coming weeks.
Future Outlook:
Monitoring: Trading volume and inflows will be closely watched by TradFi and the Crypto industry in the coming days and weeks.
Potential Milestone: This launch has the potential to become the second largest ETF launch ever, only behind Bitcoin.
The launch of these ETFs show a strong market appetite for $ETH investment products. How do you think this will impact the future of $ETH and the broader crypto market?
Credits to @EricBalchunas for his amazing work
Curious where your $AVAIL airdrop is?
@AvailProject hides this info in their FAQ:
"All participants that successfully claimed tokens during the Unification Drop claim period will be automatically sent their AVAIL tokens to the Avail address that was provided at time of claim.
Airdrop will begin going out at 9am UTC // 5am EST.
Please note the airdrop process may take a few hours so funds may not appear in your wallet until then."
Info from Avail notion: https://t.co/thtdNiGPEB
Knowing key launch dates benefits any crypto investor
Iโve gathered all relevant info about the $ETH ETF
Here is what you need to know now:
๐ง๐ต๐ฒ ๐๐ถ๐ด ๐ฃ๐น๐ฎ๐๐ฒ๐ฟ๐
@BlackRock, Franklin Templeton, and @vaneck_us have all received the green light from the SEC. They need to finalize their paperwork by the end of the week, with all eight spot $ETH ETFs expected to launch simultaneously, mirroring the $BCT ETF rollout earlier this year.
๐๐ฒ๐ ๐๐ฎ๐๐ฒ๐ ๐๐ผ ๐ฅ๐ฒ๐บ๐ฒ๐บ๐ฏ๐ฒ๐ฟ
Mark your calendars! According to Eric Balchunas from Bloomberg, final S-1 filings and fees were due by July 16th. If everything goes as planned, approval could come as early as next Monday, with trading set to begin on July 23rd. This synchronized launch ensures a level playing field for all funds.
๐ง๐ถ๐บ๐ถ๐ป๐ด ๐ฎ๐ป๐ฑ ๐๐บ๐ฝ๐ฎ๐ฐ๐
@bitwise highlights that while the launch date might shift due to regulatory steps, excitement is high. They predict these ETFs could attract $3-5 billion by the end of 2024 and $15 billion by the end of 2025. This mirrors the success of $BTC ETFs, which saw massive inflows in a short period.
๐๐ฒ๐๐๐ผ๐ป๐ ๐ณ๐ฟ๐ผ๐บ $BTC ๐๐ง๐๐
$BTC ETFs gathered around $15 billion in just six months, indicating a strong market appetite. We can expect a similar trend for $ETH, with ETFs gaining traction over time.
๐๐ป๐๐๐ถ๐๐๐๐ถ๐ผ๐ป๐ฎ๐น ๐ฎ๐ป๐ฑ ๐ฅ๐ฒ๐๐ฎ๐ถ๐น ๐๐ฝ๐ฝ๐ฒ๐ฎ๐น
ETFs are attractive to both institutional and retail investors. They offer a simple and secure way for retail investors to participate in the market without managing actual crypto assets. This dual appeal is likely to drive significant inflows, stabilizing and maturing the market.
๐ง๐ต๐ฒ ๐ฅ๐ถ๐ฝ๐ฝ๐น๐ฒ ๐๐ณ๐ณ๐ฒ๐ฐ๐
Legitimacy and Trust: The SEC's approval of $ETH ETFs is a stamp of legitimacy which signals Ethereumโs value as a financial asset. This paves the way for broader adoption and integration into mainstream finance.
๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐๐ฟ๐ผ๐๐๐ต: With easier access through ETFs, more investors can add $ETH to their portfolios, driving wider adoption. The influx of traditional capital is expected to lead to a healthier, more robust market.
๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐: As we await the final approval, the launch of Ethereum ETFs could be THE catalyst for an altcoin season attracting significant investments and driving market maturity.
๐ด Is your portfolio ready for the real bull market?