[Analysis] "Grayscale Ethereum spot ETF, 32,000 ETH staking…a factor in price rebound"
Summary
- Grayscale's Ethereum spot ETF announced that it supports staking functionality.
- Amber CN reported that 32,000 ETH staking by Grayscale's ETF is one of the main factors behind Ethereum's price rebound.
- It reported that Ethereum is currently trading at 4674.71 dollars, up 3.23% from the previous day.
Grayscale's Ethereum (ETH) spot exchange-traded fund (ETF) has added support for staking, and this is being cited as one of the main factors behind Ethereum's price rebound.
On the 7th (local time), Amber CN analyzed via X that "Ethereum staking is now possible in the Grayscale Ethereum spot ETF, which is one of the reasons Ethereum rebounded from 3,800 dollars to 4,700 dollars."
According to Amber CN, the two Ethereum spot ETFs (ETHE, Mini ETH) managed by Grayscale staked a total of 32,000 ETH over the past 9 hours.
Earlier, about 20 days ago, Grayscale had distributed transfers of 3,200 ETH per wallet address, which at the time was interpreted by the market as a move preparing for staking. After Grayscale officially announced support for staking functionality, that volume is understood to have been actually converted into staking.
Meanwhile, according to CoinMarketCap, Ethereum is currently trading at 4674.71 dollars, up 3.23% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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