Welcome back,
In this blog we will talk about what to expect if Ethereum Spot ETFs are approved tomorrow. I have already published a blog where I discussed about why Ethereum Spot ETFs are at higher chances of getting approved after the recent steps taken by Ark Invest and other companies regarding the ETFs.
If you have not read that blog, then I am sharing the link to that blog so that you can visit that and read it for more information. But you can also continue with this blog as I will be talking about a different thing here, about something which is about to happen (maybe).
Ethereum Spot ETF : A big move can be seen in next 10 days
So let us suppose that the ETFs get's approved tomorrow, what do you expect the first thing after the approvals? For me I think it will initially take Ethereum down just like we saw in the case of bitcoin as investors and whales would want to buy ETH at a lower price for the one last time (maybe).
And with that we can also see a decline of same ratio for the tokens associated with Ethereum. For example, Arbitrum, Pepe, etc which are all related with Ethereum might also have to face this downfall impact. This is the first possibility we can see tomorrow.
The second possibility and the possibility I think will happen is that Ethereum will shoot and take the layer 2 solutions for Ethereum with it as well. Just like we saw them moving up with Ethereum in last two days where Ethereum gained 22% and even the solutions gained more or at least same as that of Ethereum.
Arbitrum was up by 25% in last one week and so if Ethereum goes up from here and breaks it's all time high we might see Alts, specially the Ethereum solutions going up like crazy and we must not forget that at the end of the day, flow of money will take place from Ethereum to layer 2 tokens.
Share your thoughts with me about the ETFs, do you see it as a important event if it takes place tomorrow?
Thank you and Happy trading everyone.