Nine Spot Ether ETFs Launch on US Exchanges

The launch of nine spot Ether ETFs on U.S. stock exchanges marks a significant step for the crypto industry, although the reception has been subdued compared to Bitcoin ETFs. Ether's price saw minimal movement, trading around $3,400, while the ETFs themselves traded slightly in the red. Analysts predict short-term volatility and potential outflows from existing Grayscale funds due to high fees. Despite the initial tepid response, there is optimism about long-term growth, with some forecasts suggesting Ether could reach as high as $9,600. Institutional interest is notable, with major players like Grayscale transferring significant amounts of ETH to exchanges. The ETFs are expected to facilitate broader adoption of digital assets in traditional financial systems.