Ethereum ETF approval.

[Alpha Marine]

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

[Charles-Tim]

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

I do not know. But ethereum is not worth buying for me when I have bitcoin.

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

I have answered this kind of question before not quite long on this forum. Do not see ethereum as something like bitcoin because ethereum is also an altcoin like solana and BNB. Altcoins moves in the direction that bitcoin is moving, not that bitcoin moves in the direction that altcoins are moving. It is altcoins that is following bitcoin price to the same direction. As for the market to be follow ethereum, do not expect that.

[asriloni]

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

I can't really say a lot about the impact from the ETH ETF, but i can only way you must wait and watch it. Currently, the daily trading volume for ETH ETF is not that impressive.



The daily volume trade is still less than 24 million, and Ethereum needs a lot of money to inflow. Compared to the BTC ETF's daily trade, Ethereum is nothing. But i can still expect good impact for long term, and let's see how much money gonna be inflow in ethereum ETF in a week.



Then, wait for several days. Keep your eyes on how much money will flow to the ethereum ETF.

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

The big inflow to the ETF will directly impact the price of ethereum. This is because institutions were starting to acquire ethereum as their assets.

But, the worst scenario is if Ethereum keeps following Bitcoin's pattern. Then, ETH ETF won't impact the price.

[moneystery]

the market response is certainly different when ethereum etf is launched compared to when bitcoin etf is launched, the reason is because bitcoin is the most popular cryptocurrency globally, it is a pioneer, and more people are familiar with bitcoin compared to ethereum. also, bitcoin was the first cryptocurrency etf to be approved, and the market had been waiting for a bitcoin etf approval for a long time, so the market response was very positive when the bitcoin etf was approved by the sec.

as for ethereum etf, not many people are waiting for it and there is not as much interest in it as bitcoin, so the market responds differently when it is approved, and it will not have any effect on the price of bitcoin. i wouldn't even know this news if you didn't tell me.

[tsaroz]

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

A month ago, Ethereum have had a strong rally upwards. The cleaver ones predicted its the sign of Ethereum ETF being approved. When it comes to financial gains, there are a higher degree of insider leaks specially in crypto where there's not much restriction and exact laws for such tradings. Ethereum rose even before most of the people knew why it was rising and after the approval, Ethereum has been on a correction ever since.
It can be easily predicted that Ethereum would hit its all time high as it keeps on trading as ETF but when exactly is hard to tell. I don't see rapid change in price for the start of this trading as it was known a month ago and the coin is still in correction. But buying and holding it for next 6 to 12 months might show good results.

[South Park]

the market response is certainly different when ethereum etf is launched compared to when bitcoin etf is launched, the reason is because bitcoin is the most popular cryptocurrency globally, it is a pioneer, and more people are familiar with bitcoin compared to ethereum. also, bitcoin was the first cryptocurrency etf to be approved, and the market had been waiting for a bitcoin etf approval for a long time, so the market response was very positive when the bitcoin etf was approved by the sec.

as for ethereum etf, not many people are waiting for it and there is not as much interest in it as bitcoin, so the market responds differently when it is approved, and it will not have any effect on the price of bitcoin. i wouldn't even know this news if you didn't tell me.

It is likely that it will have a positive effect on the future, but as you state, those that were expecting for this to happen did not had to wait for long, so it did not had the same impact that the approval of a bitcoin ETF had as we have been waiting for its approval for years, still for those that like ethereum and have a significant amount, this is a good sign, one that can bring them great profits as soon as the bull market resumes its upward trajectory.

[taufik123]

-snip-
It can be easily predicted that Ethereum would hit its all time high as it keeps on trading as ETF but when exactly is hard to tell. I don't see rapid change in price for the start of this trading as it was known a month ago and the coin is still in correction. But buying and holding it for next 6 to 12 months might show good results.

I'm also sure Ethereum will reach its highest point again, although it will take time, but seeing how a positive trend starts to emerge on Bitcoin maybe next year will be a new milestone for Ethereum and signal that Altseason will also begin.

Alt season depends on how Ethereum moves, and it will always be looked forward to.
So I don't think there is a need for theory too, just pay attention to when Ethereum breaks out against Bitcoin, maybe it's the first sign that the real altseason is about to begin.

And certainly a good strategy to do DCA, buy and hold from now on with the main goal of a new ATH next year.

[DeathAngel]

It unlocks capital that has thus far been inaccessible or unwilling to invest in Ethereum. Make no mistake, Spot ETFs are infinitely bullish for Ethereum. Just be patient but money will definitely flow into these ETFs will send the price much higher.

[Kavelj22]

It can be easily predicted that Ethereum would hit its all time high as it keeps on trading as ETF but when exactly is hard to tell. I don't see rapid change in price for the start of this trading as it was known a month ago and the coin is still in correction. But buying and holding it for next 6 to 12 months might show good results.

I am not an expert in this field, but it seems to me that in both cases, Ethereum will benefit. Once it is accepted to treat Ethereum as an investment or financial product, it is a clear recognition of it. Then, after the US House of Representatives announced its approval of the draft cryptocurrency law after heading to the Senate, this legislation also means interference in the powers of the US Securities and Exchange Commission (SEC), especially in the classification process in which the body did not take into account the interest of the emerging market. .

Sinve then, Ethereum prices have rebounded on all platforms and are expected to rise further as the upcoming presidential elections approach, especially since both parties have begun to support the trend towards achieving a clear regulatory framework for cryptocurrencies and integrating them as a productive market.

[passwordnow]

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH.

In short term, don't have that much. Long term, there is but let's see if the same impact it will do as how BTC ETF spot came in.

Also, will the approval have an impact it has on Bitcoin when it is approved?

Based on my observation before, this action from Ethereum are likely to have an impact but sometimes it doesn't have. Overall, it's going to have an impact entirely to ETH and its altcoinsdom.

We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

No one will ever know until we get there. So, all now is just speculation but we've got some idea on how it will impact the actual market based on how the market reacted as per Bitcoin's spot etf trade opened.

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

Very likely.

[nelson4lov]

~Snipped

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

For now, it has been a "sell the news" event. There were a lot of buying pressure that pushed the price from the $2811 recent low to as high as $3500. The inflows were more than 50% of the Bitcoin ETF inflows on day 1 so I'd say it's promising. The fact that the price hasn't lost the $3350 level during this high volatility period just shows that when sell pressure calms, we might see some upside swings. As for coins on ETH blockchain, not so much. Most altcoins have been sidelined for most of this bull run and only a select few tokens speculated as "eth beta" have actually moved to the upside.

[Coin_trader]

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

Clearly the approval create no hype this time for Ethereum or the general crypto market because it’s timing coincides the ongoing correction of crypto market.

If this happened in the past before Bitcoin approval then I believe it will create hype to the market but people view ETF approval as common thing since there’s already one. The current price of all crypto in general is still too high near the peak that’s why it’s very hard to continuously pump the market right now. We need a significant correction before we can experience a massive bullrun imho.

[ungkuahmad]

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

In my opinion, there would be a lot of impact if an Ethereum spot ETF had on other coins, for example, it would push the price of Bitcoin to reach US$ 80,000 or more. This is because ETF approval will attract many large investors who will pour their funds into the crypto market.
and there will be a major shift in the flow of funds towards ETH and its derivative products, which could push the price of ETH to around US$ 7,000. even Solana (SOL) and meme coins are likely to experience a recent rally if these market conditions occur.

From my thoughts, perhaps the impact will be a gradual movement in price increases for other coins.

[betswift]

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

In my opinion, there would be a lot of impact if an Ethereum spot ETF had on other coins, for example, it would push the price of Bitcoin to reach US$ 80,000 or more. This is because ETF approval will attract many large investors who will pour their funds into the crypto market.
and there will be a major shift in the flow of funds towards ETH and its derivative products, which could push the price of ETH to around US$ 7,000. even Solana (SOL) and meme coins are likely to experience a recent rally if these market conditions occur.

From my thoughts, perhaps the impact will be a gradual movement in price increases for other coins.

I agree that it will be gradual, though first, in my opinion, big players will try to get off those who put lots of money on futures long positions, only then after some shaking, we will see ETH pumping slowly. So I would go only with spot positions in order to be safe. NFA.

[Alpha Marine]

Do not see ethereum as something like bitcoin because ethereum is also an altcoin like solana and BNB. Altcoins moves in the direction that bitcoin is moving, not that bitcoin moves in the direction that altcoins are moving. It is altcoins that is following bitcoin price to the same direction. As for the market to be follow ethereum, do not expect that.

I think I agree with this. I do think spot ETF would have an impact on the price of ETH, in the long run or short, but I don't believe that will have any impact on other coins or tokens in the Ethereum network simply for the reasons you mentioned. Ethereum is an altcoin that doesn't have the power to influence other coins.

In my opinion, there would be a lot of impact if an Ethereum spot ETF had on other coins, for example, it would push the price of Bitcoin to reach US$ 80,000 or more. This is because ETF approval will attract many large investors who will pour their funds into the crypto market.
and there will be a major shift in the flow of funds towards ETH and its derivative products, which could push the price of ETH to around US$ 7,000. Even Solana (SOL) and meme coins are likely to experience a recent rally if these market conditions occur.

In my opinion, like I said above, I don't think the impact is going to be that huge to affect bitcoin. Ethereum doesn't have the power to pull more investors to bitcoin. Just as Charles-Tim said, the market follows Bitcoin, but bitcoin doesn't follow any other coin. People don't invest in bitcoin because an altcoin is pumping, but people invest in an altcoin because bitcoin is pumping. When bitcoin price felt the impact of spot ETF approval, other coins started pumping as well. If Ethereum starts pumping, Investors will be drawn to it alone.

[Phemex]

We have published a couple of ideas regarding the ETH ETF event on Trading View https://www.tradingview.com/chart/ETHUSDT.P/52AjDFZ7-Phemex-Analysis-8-Will-Ethereum-ETF-spark-a-Bullish-Run/.

In short, there are two main possibilities: Scenario 1: Bullish Run & Scenario 2: Continued Consolidation. Scenario 2 is more likely to be the better option, as it will allow entering the asset at lower prices, like $2800.

[betswift]

We have published a couple of ideas regarding the ETH ETF event on Trading View https://www.tradingview.com/chart/ETHUSDT.P/52AjDFZ7-Phemex-Analysis-8-Will-Ethereum-ETF-spark-a-Bullish-Run/.

In short, there are two main possibilities: Scenario 1: Bullish Run & Scenario 2: Continued Consolidation. Scenario 2 is more likely to be the better option, as it will allow entering the asset at lower prices, like $2800.

Thanks for sharing your thoughts! I too would stick with the second scenario, as the way I see it is that ETH can correlate a bit before going higher. We will see big hands trying to throw off those who already put their money on futures long on ETH and then rebuy what they dropped with a better price.

[Wexnident]

~

Well, it's down right now lol. I expect it to have some impact but not at the same level as Bitcoin did, if it can even have one (since Bitcoin ETF as well had no impact the day it was approved, or even a few months after it really). I highly doubt it'd go to $5k, it's in profit for the past 6 months so I don't think it'd go up by that big anymore even if the ETF had an actual effect. I'd bet more that it would stabilize itself at around $3k instead of going up.

And in general, it's still the Bitcoin market that sways alts so even with the ETF I don't think it'd be enough to affect the other coins.

[Odusko]

Don't expect too much from such event as ETF or bitcoin halving, at least not in a short time bases, this will have effect on the price of ethereum but not on a fast track basis, because that is where people get it wrong, the cryptocurrency market works in a way that most of the most speculated events doesn't hold too much weight on the market, like for example, the bitcoin ETF approval in January was so much hyped and thought to be an automatic drive to bitcoin bull market, but the all time high came some months after the approval.
Same thing with Bitcoin halving event that took place somewhere in April 2024 also, we hard all the hype that the bitcoin halving is going to trigger another wave of bull market but up till now, we haven't seen any of such.
Same goes with this Ethereum ETF is the US let not expect anything out of the ordinary so that we won't be disappointed at the end of the day if nothing happens in the price of ethereum in uptrend direction after the approval.

[o48o]

I'm assuming we all know that Ethereum spot ETF was approved to start trading today on American exchanges. So I'd like to know what impact this would have on the price of ETH. Also, will the approval have an impact it has on Bitcoin when it is approved? We remember how bitcoin skyrocketed that period to about $71k. With Eth trading at about $3500 now, will it at least get to a new ATH of about $5k? Or will it just be the same thing as it is now?

Also, would this have an impact, directly or indirectly on the prices of other coins on the Ethereum blockchain?

Never underestimate the power of "sell the news" event. So far every freaking time it's the same thing: people are preparing for the moon because of the rumor, or expected event, and no matter the fundamentals behind the event and what it should bring, too much is already priced in and people will short and sell way more than it makes sense. But markets were never about making sense, but about  fear and greed in stereoids.

Give it time and it will have an effect, but how much time? That's impossible to predict.