Ninjastic
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Board Altcoin Discussion
Re: Will spot ETH ETF trigger altseason?
by
Yaunfitda
on 26/07/2024, 18:01:43 UTC
Quote from: Abiky on Today at 10:45:29 AM
Quote from: Wysi on July 22, 2024, 06:47:54 AM
After years of regulatory pushback and countless amended registration filings, spot Ether Exchange Traded Funds (ETFs) are finally hitting the market.

The anticipated listings are a defining moment for cryptocurrency markets.

Spot ETH ETF launch could cause rally in Altcoins due to their high correlation with Ethereum.

Rising Ethereum price could boost other Altcoins, differentiating this situation from the Bitcoin ETF launch, which saw Altcoins struggle. 

I wouldn't get my hopes too high. Especially when the crypto market is struggling to get back on its feet. The spot ETFs for ETH were approved, but there hasn't been any price action yet. It will take quite some time before ETH experiences a huge "pump". I'm pretty sure altcoins will follow.

If ETH spot ETFs become a success, there's a high chance prominent altcoins will get their own ETFs too. Solana is next in line to have one. There are also talks about a possible Litecoin ETF. This will result in higher market prices over the long term. It would be "dumb" enough not to buy and "hodl" ETH before the next bull market. Everybody wants to make money, right? Cheesy
Yeah, so far we haven't seen any action as far as the price goes. But if we look at Bitcoin's ETF approval, the same thing happen, it takes month before we suddenly see the positive effect on this news on the market and this is what it triggers a new all time high prior to the halving. So it's better to just continue what we have done before, buy and accumulate and then HODL, simply as that. If by chance the Ethereum market catches up with the hype of ETF then maybe we will see a huge spike in the price. And we are in the bull run season as well, so most likely we will see the price slowly increasing and who knows, maybe next year not just Ethereum, but the whole crypto market is enjoying a good run and majority of the coins are hitting their new all time high.