Ethereum ETF price drops after launch, releasing 92,500 ETH into the market... Is it a buying opportunity?

According to a report from a crypto market data analysis platform, "Compared to BTC spot ETFs, ETH spot ETFs appear to have weaker buying and selling interest. We also analyze that the ETH spot ETF material is already priced in," the report said. "Compared to BTC, ETH is expected to be much less impacted by the ETF launch. The volatility will also not be as high as BTC. If grayscale ETHE outflows do cause the price of ETH to drop, it could be a good opportunity to buy. Historically, emerging assets have shown considerable volatility until they become established as global assets, which creates great investment opportunities to look forward to, so there could be some good opportunities over the next year or two."

In response, renowned crypto analyst Michaël van de Poppe commented on X: "ETH spot ETFs saw net outflows totaling $130 million on the 24th (local time), with grayscale ETHE seeing strong outflows. If ETHE net outflows stagnate or drop below $100 million in daily net outflows, we could see a market reversal."

Meanwhile, Ethereum has been released into the market. "An outward transfer of 92,500 ETH ($2.9 billion) from an address that has been dormant for seven years is not related to the Ethereum Foundation," The Block reported today, citing an Ethereum Foundation official. "The wallet first received 96,474 ETH (approximately $130,000 at the time) from the Ethereum Foundation on September 1, 2015, and has been dormant since the transfer of funds seven years ago without any specific label until today," the media outlet explained.