The launch of Ethereum (ETH) spot ETFs in the U.S. saw unexpected price declines due to factors like a 'sell-the-news' event, significant outflows from Grayscale Ethereum Trust, long position liquidations, and broader market downturns. 

I am actually glad that the ETH "Spot" ETFs did not take off, same as the BTC ones, because it demonstrates a lack of real institutional demand for ETH that wasn't already heavily-invested. Since ETH is such an inefficient asset, it is better-owned through self-custody, because the management fees Grayscale charged were obscene.