Ethereum price has a muted response to today’s spot ETH ETF launch, but traders still expect Ether to hit new highs soon.
Analysts believe Ether (ETH) price could rally to all-time highs over the next couple of months following the launch of the first-ever spot Ethereum exchange-traded funds (ETFs) in the United States. Traders believe these funds are “heavily undervalued.”
The spot ETH ETFs started trading on July 23, a day after the US Securities and Exchange Commission (SEC) gave the final approval to issuers, including BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck and Invesco Galaxy.
Within just 15 minutes of trading, the ETFs recorded an impressive volume of $120 million.
