Will spot ETH ETF trigger altseason?

[Vincom]

Investor anticipation for an altseason has been high since Bitcoin's strong recovery in 2023. This excitement was fueled by the booming AI and restaking trends, which revitalized the crypto market. However, the post-halving re-accumulation phase, similar to past cycles, has dampened spirits with some investors growing bored and skeptical.

Despite recent negative news from Mt.Gox and the German government, there's a bright spot for Ethereum. The timeline for the ETF's launch is expected to be swift, with trading likely to commence as early as Tuesday. Analysts predict this spot ETH ETF could be a game-changer, attracting significant investments to Ethereum. Leading exchange Gemini estimates potential inflows of up to 5B USD within the first 6 months. This surge in investment could significantly benefit the Ethereum ecosystem, potentially accelerating innovation and development. ^[1]

This spot ETH ETF is expected to trigger a chain reaction of positive outcomes:

1. A more bullish sentiment within the crypto community.
2. An influx of new investors and capital into the market.
3. The creation of new spot ETFs for various Proof-of-Stake tokens, with SOL and XRP being the frontrunners.
4. A potential altseason marked by widespread price increases across the cryptocurrency market, culminating in a substantial rise in the total market cap.

The introduction of a spot ETH ETF alongside a spot BTC ETF presents a strategic opportunity to attract traditional investors to the crypto market. This could be a turning point, accelerating the transition from the current re-accumulation phase to a sustained period of growth.

I would like to know your opinion on this issue:

• Do you think the spot ETH ETF will be as successful as the spot BTC ETF?
• Do you have high expectation for the positive impact that spot ETH ETF can bring to the crypto market?
• Are you holding ETH and waiting for ETH price increase after this news?

References:
[1] SEC Tells ETH ETF Issuers Fund Can Start Trading Next Tuesday: Sources

[Charles-Tim]

When ethereum itself do follow bitcoin price. Altcoins are following bitcoin price. Do not expect much if bitcoin ETF is approved in United States than the price of ether to increase slightly.

[AVE5]

I would like to know your opinion on this issue:

• Do you think the spot ETH ETF will be as successful as the spot BTC ETF?
• Do you have high expectation for the positive impact that spot ETH ETF can bring to the crypto market?
• Are you holding ETH and waiting for ETH price increase after this news?

My treasure holding is on bitcoin and my most expectations is that the best crypto exploit would always come from bitcoin spot.
So apparently there's no much to be expected on the Ethereum spot supposing to linger to the surge of bitcoin increase. It's invalid to be believed instead the price of bitcoin would have impact on the Ethereum value just as Charles -Tim has briefed.[/list]

[Dave1]

I would like to know your opinion on this issue:

• Do you think the spot ETH ETF will be as successful as the spot BTC ETF?
• Do you have high expectation for the positive impact that spot ETH ETF can bring to the crypto market?
• Are you holding ETH and waiting for ETH price increase after this news?

My treasure holding is on bitcoin and my most expectations is that the best crypto exploit would always come from bitcoin spot.
So apparently there's no much to be expected on the Ethereum spot supposing to linger to the surge of bitcoin increase. It's invalid to be believed instead the price of bitcoin would have impact on the Ethereum value just as Charles -Tim has briefed.[/list]

Most of us have been a holder of Bitcoin, and it's really the prime mover of crypto. However, if we think about the altcoin market, Ethereum is still the top and so with this kind of news, if might trigger a avalanche of altcoin getting huge gains because of Ethereum ETFs.

We don't compare ETF's though, we all know that they have different investors. But ETH ETF's could also flow big money in the beginning because of the hype.

I just have small amounts of ETH, nothing big, majority is still in BTC to be honest.

[DeathAngel]

It definitely could trigger altseason. If we look at the price action in Bitcoin since they got Spot ETFs, it is up considerably. Now that Ethereum is accepted as a commodity & will be accessible by deep pockets, I see no reason why it won’t pump hard in the coming months which obviously usually means money gets pumped into ERC20 tokens also.

[onecall123]

I've read a few news reports about this, and it gives us reasons to focus on altcoins. Right now, ETH is already breaking through resistance levels due to the news. If ETH rallies, we can expect altcoins to follow soon after. Thanks to a certain sharpshooter's enthusiasm, and more good news is right now the crypto sentiment is positive. So, the outlook remains bullish for the near future.
Just stay and watch the show. I am hopeful that there's light at the end of the tunnel.

[Solosanz]

ETH is the second biggest cryptocurrency, so I believe it will be as successful as Bitcoin ETF.

Nope, I didn't own any ETH, it's already quite late to buy ETH just for taking advantage over the ETF hype because the hype could be happen before the ETF launched or after the ETf launched. If the hype only happened before the ETF launched, it means I bought ETH at the peak.

However, the rise of ETH price doesn't mean other altcoins will follow too.

[passwordnow]

Do you think the spot ETH ETF will be as successful as the spot BTC ETF?

Possible.

Do you have high expectation for the positive impact that spot ETH ETF can bring to the crypto market?

Yes, just as how BTC ETF has been made and its impact was positive. I'm expecting that this is going to buff the effect of the first crypto ETF that has been approved.

Are you holding ETH and waiting for ETH price increase after this news?

Yes, I'm holding a few ETH and that's why I am moving forward to see that it's going to take positive effect in the market. I'm waiting for more greater news that will create positive input to make the price of Ethereum higher.