The Ethereum ETFs took the market by surprise. Are they priced in?

📆 5/29/2024 10:23 AM
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As the Ethereum ETFs were approved with such short notice, analysts doubt that the potential inflows are baked in already.

While the market had months to prepare for the Bitcoin ETFs, it had just days for its Ethereum counterparts.

“No, I don't think it is priced in,” said DeFiance Capital co-founder Arthur Cheong. “Impossible for the market to price in such a major shift in expectations and positioning in a few days. Price is almost unchanged compared to 12 hours after the news came out.” “While there are some differences — ETH is coming in at a higher starting point having been dragged up by BTC and there was something in ETH’s price for an eventual spot ETF approval even if not expected this month…but the approval is due to and accompanied by a changing U.S. stance towards crypto — the same pattern could play out with Ethereum and the spot ETH ETFs,” he added.

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