Ether ETF Buzz: Calm Before the Storm?

Experts Weigh In on the Future of Spot ETFs

Author

Jungle Degen
May 24, 2024

Greetings Crypto Explorers! 🌴🦜

Welcome to this week's edition of Jungle Tales, your go-to source for all things crypto with a wild twist! The big buzz in our jungle is the U.S. approval of 8 spot Ether ETFs, yet Ether's price remains surprisingly calm. We've got insights on why this might be, plus updates on Grayscale's Ethereum Trust, the rise of Pepe, and more.

As always… Stay Wild! 🌿🦁🚀

🦍 The Big Jungle Roar

This week's monumental event that shook the crypto-jungle. Roar with us!

Ethereum ETF approved, so why aren’t we rich yet?

cointelegraph.com/news/ether-etf-approved-ethereum-price-sluggish

Big news hit the jungle! The U.S. just approved 8 spot Ether ETFs on May 23rd, but why isn’t Ether going bananas? Despite the landmark approval, Ether fell 3.4% before the news, then bounced back 5%, now sitting at $3,806. Some say it’s a classic “buy the rumor, sell the news” situation. Others think it’s because the ETFs aren’t live yet, needing an S-1 filing approval which could take weeks or months. 🌴

Experts like Zach Rynes and Second Mountain predict a massive inflow of capital once these ETFs start trading. They believe net new capital inflow is still to come. Meanwhile, Grayscale’s plans to convert its Ethereum Trust into a spot ETF could lead to significant outflows, similar to what happened with Bitcoin earlier this year. 🐍

Despite all the noise, ETH maxis say it’s undervalued and point out that Ether is up 17.51% in the past 30 days. Bitcoin also stumbled a bit but has since recovered, while Pepe hit a new all-time high! 🐸

Remember, every move involves risks. Do your research and stay wild! 🌿✨

📈 News about ETH ETF:

🦁 King of the Crypto Jungle

Unleashing the top beasts of this week's crypto news. Beware, it's a wild ride!

🐒 Meme Monkeys

Hopping onto the funniest and savviest crypto memes that swung through the jungle this week.

🦜 Jungle Mystery of the Week

Can you solve our crypto-themed riddle? The answer lies hidden deep within the jungle. Share your guesses on Twitter and tag us! (we may gift someone some crypto 👀)

In the heart of the crypto jungle, where the digital wildlife thrives in a chaotic dance, there exists a mighty force that has captivated the attention of traders and adventurers alike. This force, often seen as a towering tree amidst a forest of volatile tokens, possesses a unique ability to adapt and grow regardless of the market's unpredictable swings. It has roots deeply embedded in smart contract technology, offering a platform for decentralized applications that continue to shape the landscape of the jungle. What is this formidable entity that stands resilient and continues to influence the course of the crypto world?

🦩 Tweets from the Jungle

Check out these wild crypto tweets that have made it to the jungle!

🐊 Crypto Swamp Watch

  • Bitcoin (BTC) - $68,942.81 (3.73%)

  • Ethereum (ETH) - $3,736.07 (21.29%)

  • Top Gainer: Pepe (+40.43%)

  • Top Loser: Arweave (-12.98%)

    Snapshot taken on the 24th of May, around 12:45pm, Jungle time.

🍍 Jungle Poll Parrot

Join our parrot's poll! This week's squawk…

Why do you think Ether's price has shown minimal movement after the SEC approved spot Ether ETFs?

Login or Subscribe to participate in polls.

🐯 Jungle Snapshots

Our grand finale - Jungle madness, guaranteed wilder than any pump and dump. Enjoy, you crypto beasts!

is this a sign to buy pepe? 🐸

👋 That's all for this issue of Jungle Tales! As we part ways, let's remember the wise words of a crypto degen:

In the tangled heart of the crypto jungle, patience is the silent sentinel that watches over those who seek true success. Much like the wise jaguar that waits in the underbrush, observing every movement and change in its environment, a seasoned trader must bide their time, studying market trends and fluctuations with keen eyes. The jungle is a place of sudden shifts and hidden dangers, but those who master the art of patience transform chaotic unpredictability into a landscape rich with opportunity. Let the rhythm of the jungle guide you; in its quiet moments, it reveals the true path to enduring success.

Don't forget to share our newsletter with your fellow crypto adventurers, and follow us on Twitter X.

Until next time, keep exploring the wild world of crypto!

Pura Vida,

Jungle Degen

JUNGLE WARNING: Hear me, ye dauntless navigators of the crypto wilderness. This parchment holds no keys to monetary splendor. Consider it more of a cryptic map of the jungle, teeming with teachings, not a treasure chest marked with an 'X'. It neither mutters veiled secrets of investment, nor beckons you to swap your prized assets or enact any fiscal transactions. In this unpredictable crypto habitat, caution is your most trusted ally, and your own robust investigation, the steadfast compass. Equip yourselves with the shield of wisdom, as you traverse the intricate network of paths. Remember, swift success is often a false trail; it is through enduring patience, adroit maneuvering and careful strategy can you navigate this mysterious landscape. The jungle is vast and filled with enigmatic conundrums; let your own diligent research be the torch that dispels shadows. Don't be lured by the glimmering illusion of quick profits, but bend your will to the pursuit of genuine understanding. Keep your wits about you and eyes wide open on this crypto-quest. To cut a long story short, this is NOT financial advice. Safe travels, crypto explorers!ed