There has been FOMO since last week, as the Ethereum ETF market was going to surge. At that time, I said that Ethereum might be boosted in the short term, but not too much.
First of all, the launch of Ethereum’s ETF cannot make much progress in the current poor environment.
I have said that ETFs are a good bridge between retail funds and the crypto market, but Ethereum's ETFs alone are not enough. Many people still don't understand that ETFs are not a factor that directly activates the market. Canada's Bitcoin spot ETF has been issued for many years, and the trading volume is also pitifully low.
Moreover, the reason why Ethereum is currently the second largest market value depends more on the good and rapid development of its own ecosystem. If we look at Ethereum itself, its value does not account for all of the entire Ethereum ecosystem.
When it comes to ETF applications, Bitcoin is the key. Only if Bitcoin can allow more retail investors to purchase it as conveniently and quickly as Ethereum can it bring a new round of heat to the market. Remember, it’s the popularity that brings about the bull market, not the bull market directly.
This is not alarmist. I think it is best to treat market sentiment rationally.
#ETF #ETH