Forecast of possible selling event following news of ‘spot ETF launch’
“ETH evolves financial products by adding utility after short-term adjustment”
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Eneko Knorr, CEO of Stavolut, a digital asset (cryptocurrency) payment system provider, pointed to the example of Bitcoin (BTC) and predicted that Ethereum would make a similar move.
He explained, “Immediately after the Bitcoin spot ETF was launched this year, the price of Bitcoin fell by 15%,” and “It was only two months later that Bitcoin hit its highest price.” He then emphasized, “The price increase of Ethereum due to the launch of the Ethereum spot ETF market will peak just before the market launch, and there will be a short-term adjustment immediately after the market launch.”
Ruslan Lienka, general manager of Uholder, a digital asset wallet provider, also argued that there will be ‘selling due to news.’ It is only expected that the adjustment period will be shorter than expected.
He explained, “Considering the long-term outflow of Ethereum from the exchange, long-term investors predicted the ripple effect from the Ethereum spot ETF and began accumulating it.”
Darren Franceschini, founder of digital asset trading platform Fidium, also believes that Ethereum should focus on its long-term rise rather than its short-term correction.
He emphasized, “When launched as an ETF, Ethereum will develop into a financial product in response to the utility of the existing network, resulting in a large price increase in the long term.”
Currently, the prevailing opinion is that a spot ETF for Ethereum will be launched next week. This is because the U.S. Securities and Exchange Commission (SEC) requested ETF applicants to submit S-1s amendments to their securities reports as a condition of launching the Ethereum spot ETF market next week, and all applicants complied.
Reporter Seungwon Kwon ksw@
