Binance: Approval of a spot Ethereum ETF is expected to significantly increase demand and push up ETH prices
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Odaily Odaily Binance said in its official blog that the approval of the spot Ethereum ETF is expected to significantly increase demand and push up the price of ETH, which is very similar to the trend of Bitcoin ETF. Due to the tightening of ETH supply on exchanges due to staking and smart contracts, ETH prices may be more sensitive to ETF inflows than BTC, which may lead to more drastic price fluctuations. The SEC's restrictions on ETH staking held by ETFs may cause cryptocurrency-savvy investors to favor direct staking, which may suppress some demand for ETFs while catering to different investor audiences.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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