GM frens!

The following applicants filed an updated version of their S-1 spot Ethereum ETF application:

• Bitwise
• Fidelity
• VanEck
• Franklin
• 21Shares
• Grayscale
• BlackRock

That means spot ETH ETFs will launch around 2d of July 2024.

Grayscale ETHE Trust will likely create sell pressure the same way as GBTC after Trust converted to ETF. AUM of ETHE is around $10B in ETH.

If demand from new ETFs is less than ETHE out-flow, ETH price might fall. 
Why would there be out-flows? Just like GBTC, investors might wanna take profits.