Quote from: goaldigger on June 27, 2024, 11:08:32 AM

Quote from: DeathAngel on June 27, 2024, 11:01:00 AM

It may not make an immediate bullish difference with the price but of course, over time Spot ETFs being available will drive the price of Ethereum up. It opens the doors for institutional investment which is a totally new phenomenon for Ethereum. Large amounts of capital are now unlocked, able to flow into Ethereum, it can’t be anything other than positive.

Just like with Bitcoin where we don't see big jump in an instant, this will also be the scenario for ETH.
Though if there's a better hype for this ETF as we all know, ETH is the top altcoins and if many institution will support this progress then we can expect a big pump slowly but surely. A development like this is a positive in cryptomarket, and it's just a matter of time before other altcoins to have their own ETF update as well.

I believe you are wrong about that because ethereum didn't show significant growth even before approval of ETH; bitcoin did not immediately soar, but it did rise from $30k to a new all-time high. Ethereum may have a different story because the buzz is not as high. The approval of the Ethereum ETF will undoubtedly provide a great deal of hope to all Ethereum users.
Ethereum is unlikely to follow Bitcoin's lead. Ethereum increased by 18 percent upon ETF certification, but then fell back to its pre-announcement price.

The introduction of ethereum ETF spot trading will have no meaningful impact on the price of ethereum. This is my two cents.