Grayscale Research: Despite continued pressure, the fundamentals of cryptocurrencies remain unchanged, and it is expected that spot Ethereum ETP will be listed in Q3 2024

According to ChainCatcher, Grayscale Research stated in its latest article that in June, continued and expected selling pressure from various sources put pressure on Bitcoin and the broader cryptocurrency market, including the Mt Gox bankruptcy estate, the sale of Bitcoin by the US and German governments, and outflows from US spot Bitcoin ETPs.

However, it believes the fundamentals of the asset class have not changed significantly. There seems to be more progress being made with the listing of a spot Ethereum ETP. While the exact timing is uncertain, Grayscale Research believes the products will begin trading in the third quarter of 2024. Unless the macroeconomic outlook changes significantly, cryptocurrency valuations are expected to recover in the coming months.