Jul 24, 9:40 am
Decrypt
Despite the Launch of Successful Ethereum ETFs, the Price of ETH Remained Stable
The price of Ethereum (ETH) remained stable around $3,445 despite the successful launch of spot Ethereum exchange-traded funds (ETFs) that attracted over $1 billion in trading volume. While the trading volume for spot ETH barely moved, there was an increase in the volume of ETH traded relative to Bitcoin, indicating heightened activity in ETH markets. Industry experts emphasized the importance of broader ETH ownership for decentralization but noted that the SEC’s approval of the ETFs does not signify a shift in their approach to crypto regulation.
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