Spot ETF Aftermath: Weak Demand Tests $2,400, but Long-Term Confidence Remains

Although the Ethereum spot ETF has been approved, the initial capital inflow situation upon listing has been far less enthusiastic than the market expected. This 'sell the news' market behavior, along with the continuous capital outflow from Grayscale's ETHE, has placed significant short-term pressure on ETH prices, leading to a temporary test of the $2,400 level.

However, when taking a longer view, many top analysts and institutional investors have not lost confidence as a result. They believe that the true impact of the ETF will take time to manifest. As more traditional financial advisors incorporate these products into their investment portfolios, and with the ongoing strengthening of Ethereum's own network effects, the trend of long-term capital inflows is clear. The current price weakness is seen as a normal adjustment in the market as it digests short-term profit-taking and uncertainties. Several institutions still maintain the target expectation of ETH reaching $4,000 within the next 12 to 18 months, viewing the current low price as an extremely attractive 'value gap' and a strategic entry point.