According to Bankless analysis, the approval of the Ethereum spot ETF may have a bullish long-term impact, but it is also highly likely to become a selling news event. Even for Bitcoin, the debut of its ETF was basically in line with analysts' expectations. Bitcoin's price has fallen 12% from its listing peak. When the Ethereum Futures ETF was launched last year, demand for ETH futures was disappointing, achieving only $1.7 million in trading volume in the first hours of the market. Although futures products were not as good as spot products because they exposed investors to contango. and backwardation effects (i.e. the price of next month’s contract may be higher or lower respectively than the price of the expiring contract), but the almost complete lack of demand for ETH exposure from TradFi market participants suggests that there may be future demand for spot products. Also inadequate.