10x Research: Ethereum Spot ETF Trading Launch May Trigger Short-Term Adjustments

ChainCatcher news, according to a report by 10x Research, the U.S. Securities and Exchange Commission (SEC) has approved the Ethereum ETF, which will begin trading on July 23. Looking back at history, from the launch of Bitcoin futures in December 2017 to the listing of the spot Bitcoin ETF in January 2024, similar events often trigger market adjustments shortly after listing.

The report noted that when the SEC requested exchanges to update their 19b-4 application documents on May 20, the probability of Ethereum ETF approval jumped from 25% to 75%. In the following 7 days, the number of open ETH futures contracts increased by 500,000, with the total rising from $8.8 billion to $13 billion, and the price of ETH also rose from $3,065 to a peak of $3,959. Analysts remind investors to pay attention to potential short-term market fluctuations that may occur after the ETH ETF listing.