Traders Cautious About Ether’s Price Movement Post Spot ETF Launch Despite Bitcoin’s Previous Downturn

Traders are cautious about assuming Ether‘s price will decline following the launch of spot Ether exchange-traded funds (ETFs), unlike what occurred with Bitcoin after spot Bitcoin ETFs began 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 noted that, unlike Ether, Bitcoin didn’t see a price drop before the approval of spot Bitcoin ETFs on January 10. “The BTC ETF had no pullbacks in the months leading into it. The selling pressure began when the Grayscale