From Investing.com
July 25, 2024 05:53 AM:

Ether ETFs began trading in the U.S., but Ether’s price dropped by nearly 4% to $3,300. The launch was already priced in, leading to short-term investors taking profits. The broader U.S. stock market also saw a downturn with Nasdaq falling 3.6% and the S&P 500 dropping 2.1%.

Despite the market turmoil, Bitcoin price remained relatively stable around $66,000. The new Ether ETFs recorded a combined trading volume of over $1 billion, with iShares Trust and Fidelity Ethereum Fund leading in trading volume.

Bitcoin ETFs accumulated $17 billion in net inflows since January, while Ether ETFs are expected to be smaller due to market sizes. Ether is seen more as a bet on blockchain technology’s growth, with traders now focusing on economic data releases and Donald Trump’s speech at the Nashville Bitcoin conference.

Read more at Investing.com: Ethereum price sinks despite US ETF debut By Investing.com