Cryptocurrency ETFs are all falling. As of press time, Bosera Ether (03008) fell 7.22%, reporting 24.92 Hong Kong dollars; Jiashi Ether (03439) fell 6.98%, reporting 7.86 Hong Kong dollars; Huaxia Bitcoin (03042) fell 6.97%, reporting 7.81 Hong Kong dollars.
According to the WiseMoney app, cryptocurrency ETFs are all falling. As of press time, Bosera Ether (03008) fell 7.22%, reporting 24.92 Hong Kong dollars; Jiashi Ether (03439) fell 6.98%, reporting 7.86 Hong Kong dollars; Huaxia Bitcoin (03042) fell 6.97%, reporting 7.81 Hong Kong dollars.
On Wednesday (July 24), at the end of New York trading, the CME Ether futures DCR main contract reported 3,378.00 US dollars, down 3.21% from Tuesday, and traded between 3,503.00-3,357.00 US dollars. It is reported that after half a year of listing, the second largest cryptocurrency Ethereum behind Bitcoin ushered in spot ETF, and on its debut day, investors were enthusiastic. According to media estimates, the first batch of nine Ethereum ETFs had a total trading volume of more than 1 billion US dollars.
It is reported that in May of this year, the SEC approved several exchange plans related to Ether spot ETF trading, paving the way for the Ether ETF to be listed for trading in the US. Insiders said that the launch of the Ethereum ETF may cause a surge in market demand, which may lead to a shortage of Ether supply. In the case of a supply shortage, Ether prices may be more sensitive to capital inflows, and locked Ether cannot be used to meet the new demand for ETF, which will further cause supply shortages and push up Ethereum prices.
In addition, some industry media organizations have stated that derivatives market participants expect that Ether's volatility this week will be high because spot Ether ETF will start trading on Tuesday (July 23). An analyst predicts that on the day of the listing of spot Ether ETF, Ether may face selling pressure, and the price will gradually rise afterwards.