Traders are cautioning against assuming that the price of Ether (ETH) will decline after the launch of spot Ether exchange-traded funds (ETFs), unlike what happened with Bitcoin (BTC) after spot Bitcoin ETFs started trading. This skepticism is based on the fact that Ether has already experienced a price decline of 15% over two months, whereas Bitcoin had not seen a similar decline before the approval of spot Bitcoin ETFs.

Crypto trader Matthew Hyland explained that the selling pressure for Bitcoin began only after the Grayscale ETF was listed, and not before. He believes that the likelihood of a selloff after the ETH ETF is lower compared to the BTC ETF. Hyland also pointed out that Ether has already reached local highs of $4,092 in March this year without the positive news of spot Ether ETF approval. This suggests that the price of Ether may not be as heavily influenced by the launch of spot ETFs as some might expect.

However, there are concerns about Grayscale's plans to convert its Grayscale Ethereum Trust (ETHE) to an ETF, which could result in selling pressure and price impact. Hyland predicted upward momentum for Ether's price, but Michaël van de Poppe, founder of MN trading consultancy, echoed a similar sentiment of uncertainty until the spot Ether ETFs start trading. Van de Poppe stated that "it's a waiting time until the listing takes place, and then the inflow will provide whether there's a strong continuation upwards."

The approval of spot Ether ETFs by the SEC has been seen as a positive development, but the market has had only three days to price in the news, according to independent Ethereum educator Sassal. Sassal argued that "ETH is stupidly undervalued," and that the market needs more time to fully absorb the implications of the approval. The lack of movement in Ether's price following the approval has been widely commented on, with some arguing that the market is waiting for the listing to take place before making a move.

Traders are cautious about assuming that the price of Ether will decline after the launch of spot Ether ETFs, citing differences in the market conditions compared to Bitcoin. While there are concerns about selling pressure and price impact, the overall sentiment remains positive, with many predicting upward momentum for Ether's price. The launch of spot Ether ETFs is seen as a significant development for the cryptocurrency market, and traders are eagerly awaiting the next move.

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