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There’s a lot of tech wizardry going on behind the scenes that makes it all possible
Plus, are people still excited about the ETH ETFs?
The Grayscale Ethereum Trust exchange-traded fund conversion removes discounts and lock-in periods, which could prompt investors to sell their shares for cheaper ETFs from issuers like BlackRock and Fidelity, an analyst said.Outflows from the converted Grayscale’s Ethereum Trust could weigh on the price of ether in the initial period after the launch of ETF trading, the analyst added.
Share link:In this post: Grayscale moved $1 billion worth of Ethereum to Coinbase to prepare for the launch of its spot Ethereum ETFs on the NYSE and other platforms. Coinbase will be the custodian for eight of the nine new Ethereum ETFs. Grayscale’s Ethereum ETF has a high management fee of 2.5%, which is much higher than competitors like BlackRock and Fidelity.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information
Kaiko’s latest analysis suggests that Ether’s price will be sensitive to spot ETF inflows, given the low demand for futures products back in late 2023.
- 15:19BTC Surpasses $104,000Market data shows that BTC has surpassed $104,000, currently reported at $104,003.52, with a 24-hour increase of 0.46%. The market is quite volatile, so please ensure proper risk management.
- 15:16Casa Co-Founder: The only way to slow down Strategy's accumulation of BTC is for other entities to adopt the same strategy and push it out of the marketJameson Lopp, co-founder of Bitcoin custody company Casa, stated on the X platform that the only way to slow down Strategy's accumulation of Bitcoin is to encourage other entities to adopt the same strategy and push it out of the market. Similarly, the only way to slow down "junk information" within Bitcoin blocks is to encourage more independent use of Bitcoin to increase the price of block space and exclude low-value use cases.
- 15:15Important Events and Data Preview for Next Week: US April CPI Data to be Released on TuesdayImportant Events and Data Preview for Next Week: Monday: Speeches by Federal Reserve Governor Kugler and others; Tuesday: U.S. April CPI data; Thursday: U.S. Initial Jobless Claims for the week; U.S. April PPI data; 2027 FOMC voting member, San Francisco Fed President Daly participates in a fireside chat, Federal Reserve Chairman Powell delivers opening remarks at an event, Federal Reserve holds the second Thomas Laubach Research Conference; Friday: U.S. May one-year inflation rate expectation preliminary value; Saturday: Speeches by Federal Reserve's Barkin and Daly. (Jin10)