Bitcoin's price dropped 15% after spot Bitcoin ETFs started trading, but traders aren't so sure that Ether's price will react the same way.
Traders are skeptical about assuming that the price of Ether (ETH) will decline after the launch of spot Ether exchange-traded funds (ETFs), similar to what happened with Bitcoin (BTC), after spot Bitcoin ETFs started trading.
“I think there is less likelihood of a selloff here after the ETH ETF compared to the BTC ETF,” crypto trader Matthew Hyland explained in a May 24 post on X.
Hyland pointed out that unlike Ether, Bitcoin had not experienced a price decline in the period leading up to the approval of spot Bitcoin ETFs on Jan. 10.
