Net inflows into spot ether ETFs below $3 billion would be a disappointment given that bitcoin versions received $15 billion of inflows in the first six months, Gemini said. Net inflows above $5 billion, a third of the bitcoin ETF level, would be a strong showing, and anything close to 50% or $7.5 billion would be a “significant upside surprise.” Source
Ethereum price started a downside correction from the $3,520 zone. ETH is stable above $3,420 and might attempt another increase in the near term. Ethereum started a downside correction after it failed to surpass the $3,520 zone. The price is trading above $3,420 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $3,470 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $3,470 and $3,520 resistance levels to continue higher. Ethereum Price Corrects Lower Ethereum price…
“We continue to forecast a net inflow between $15 billion and $20 billion in the first 12 months, even considering the outflow from the Grayscale Ethereum Trust (ETHE),” senior analyst Mads Eberhardt wrote, adding that this should drive the value of ether higher, in dollar terms and also relative to bitcoin (BTC). Source
“We asked the SEC for documents about closed investigations to shed light on how the SEC views its newfound, sweeping (and unlawful) authority,” Coinbase Chief Legal Officer Paul Grewal said in a post on X (formerly Twitter). “One of those investigations, which only recently closed, focused on ETH, which the SEC publicly announced is not a security in 2018. And the other investigations have been closed for years. But the SEC stonewalled our requests.” Source
Bitwise’s Chief Investment Officer (CIO) Matt Hougan recently discussed the inflows the US Spot Ethereum ETFs could attract. Specifically, he stated how much could flow into these funds in their first 18 months of trading. Spot Ethereum ETFs To Record $15 Billion In First 18 Months Of Trading Hougan mentioned in a note to investors that the Spot Ethereum ETFs could record $15 billion in net inflows in their first 18 months of trading. He elaborated on how he arrived at these figures to show that it wasn’t just a…
“Some investors may have bought a bitcoin ETP and stopped there, thinking their crypto exposure was covered,” the report said, adding that this dynamic may be true in the U.S. also. Assuming ether ETFs only capture 22% of the market, as in Canada, cuts the estimate of net new inflows to $18 billion, and other factors chop off another $3 billion. Source
“ETH should not see as much spot ETH conversion due to the lack of an ETH staking feature in the ETF,” analysts Gautam Chhugani and Mahika Sapra wrote, adding that the basis trade will likely find takers over time and this should contribute to healthy liquidity in the ETF market. The basis trade involves buying the spot ETF and selling the futures contract at the same time and then waiting for the prices to converge. Source
Ethereum is tracking lower when writing, sinking roughly 18% from March 2024 highs. Even though bears appear to be in control at spot rates, keeping the second most valuable coin below $3,700, confidence is high among analysts. ETH Futures Open Interest Rising On CME Taking to X, one of them noted that there are solid signs that institutions are positioning themselves to push prices higher. Citing rising open interest in Ethereum Futures at CME, a bourse, the analyst said it is highly likely that the “big money” is accumulating ETH,…
Ethereum’s price stands at $3,311, with a market capitalization of $404 billion. The 24-hour intraday trading range has fluctuated between $3,277 and $3,500, while the 24-hour trade volume has reached $16.82 billion. A technical analysis across various timeframes highlights significant bearish indicators. The confluence of oscillators and moving averages suggest a continuation of the downward […] Source CryptoX Portal
Ether, which came into existence in 2015, set a record price of over $4,800 since November 2021. While BTC surpassed its 2021 early this year, ether only briefly managed to top the $4,000 mark, with the upside relatively restricted due to regulatory uncertainty and low odds of ETH getting a spot ETF listing in the U.S. Source