You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-anticipate-ethereum-etf-approval-boost/" data-wpel-link="internal">Investors Anticipate Ethereum ETF Approval Boost</a> 
Spot <a href="https://en.coin-turk.com/ethereum-shows-signs-of-short-term-pullback/" data-wpel-link="internal">Ethereum</a> (ETH) ETF approval did not trigger the expected ETH and altcoin rally. Investors had hoped for a different scenario. There is still time for a rise in ETH following the BTC ETF approval. Recent ETF <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> is promising. 
<h2 style="text-align: justify" id="spot-eth-etf">Spot ETH ETF</h2> 
After two weeks, Spot ETH ETFs saw positive net inflows for the first time. Among nine different ETH ETFs, Grayscale’s ETHE experienced consistent net outflows similar to GBTC. During the BTC ETF process, we read analyses predicting the end of GBTC sales. Grayscale officials predicted these steady sales would end soon, and they did. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-384262 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/ETH-ETF-Verileri.png" alt="" width="897" height="891"> 
ETHE sales were faster than GBTC, and the negative market sentiment fueled the outflows. Since August 14, ETHE outflows slowed, leading to the first net inflow in the ETH ETF channel. Ether ETFs, introduced on July 23, saw $2.5 billion in net outflows in their first month. 
Since the launch, ETH <a>price</a> dropped by 25%. On the day of the ETF approval last month, ETH price reached $3,441 but is now around $2,560. However, the annual price increased by 13%. 
<h2 style="text-align: justify" id="eth-price-prediction">ETH Price Prediction</h2> 
By February 15, 75% of new BTC investments came through the ETF channel. If net inflows continue in the ETH ETF channel, a new rise phase could begin due to increased demand. What will the price be? Nansen analyst Aurelie Barthere highlights the key $2,700 resistance level. 
<blockquote> 
 “$2,700 is the next resistance level for ETH, and there’s no sufficient evidence it has been broken. The price hasn’t held above this resistance long enough with sufficient volume.” 
</blockquote> 
Coinglass data indicates that surpassing this level would liquidate $362 million in short positions. This figure excludes stop triggers, investor balance additions, etc. Nonetheless, this area is risky for short sellers. The high liquidation potential in this area shows some <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ belief in a decline. 
If the summer lull ends, new movements above $3,000 could be seen in October. For an earlier rise, stronger demand in the ETH channel or a rapid BTC rally is needed. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-anticipate-ethereum-etf-approval-boost/" data-wpel-link="internal">Investors Anticipate Ethereum ETF Approval Boost</a></h5>
The post <a href="https://en.coin-turk.com/investors-anticipate-ethereum-etf-approval-boost/" data-wpel-link="internal">Investors Anticipate Ethereum ETF Approval Boost</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Investors Anticipate Ethereum ETF Approval Boost

Table of Contents

COINTURK NEWS

Other articles published on Aug 29, 2024

Donald Trump’s Fourth NFT Collection Bags $2 Million in Sales

Trump’s ‘America First’ NFT Collection Records $2.2 Million in Sales Within Two Days of Launch

Ethereum ETFs See Daily Net Inflow of $5.84 Million

Crypto Trader Loses $1M In $MBAPPE Memecoin Scam

Nvidia’s Q2 earnings miss rattles AI tokens and Asian tech stocks

Cardano’s Game-Changing Update Is Almost Here – Find Out Why September 1st Will Make History

Join our free newsletter for daily crypto updates!