This week brought a big surprise for Ethereum crypto bros. After a long time of waiting, hoping, and praying, the Securities and Exchange Commission has finally approved Spot Ethereum ETFs, and it’s finally open season for everyone eyeing those ETFs. 

Related: What Happened to Ethereum this Week?

The trading firms seem just as thrilled as the investors about the approval. Trading firms like 21Shares, Bitwise, BlackRock Inc., Invesco Ltd., Franklin Templeton, Fidelity Investments, and VanEck have wasted no time opening up shop. They have all confirmed that the trading of the spot Ethereum ETFs will start on Tuesday. 

Investors will undoubtedly have no problem with that announcement. The ETF market is one big investment opportunity they can’t wait to dig into, and now that it’s finally here, Tuesday will be a very busy day. 

The arrival of spot Ethereum ETFs means investors can directly access Ethereum through a well-regulated and secure financial product. As a bonus, it also means increased investment and liquidity in the market. So, what’s not to love about it? 

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Source: Blockworks

Bitcoin was the first to get Spot ETFs approved and has seen impressive results since then. Ethereum hopes for something similar or even better, but the current realities are very far from encouraging. 

Everyone thought Ethereum was set to get a price boost with the approval of spot ETFs, but the reverse is the case so far. Surprisingly, Ethereum’s market recorded a 1.32% price drop immediately after the announcement. However, investors aren't too worried about the price drop. It’s just a typical “sell-the-news” effect for them, and they believe the market will rebound.

Although the price of Ethereum has settled around $3,475 from a low of $3,422, the price drop is still concerning and not at all what anyone saw coming. Many analysts and investors are concerned about what can only be described as a “lukewarm response” to the approval. 

But to settle everyone’s minds, Matteo Greco, a research analyst at Eineqia, has said that this kind of response is perfectly normal and should be expected initially. So, Ethereum ETFs need a little more time to get their act together. After all, Rome wasn’t built in a day, right?

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Source: Tenor

Hardly any project achieves perfect performance right from the start. Even Bitcoin, the biggest crypto of all, took its sweet time before becoming anything impressive. Ethereum ETFs hold a lot of potential for investors and should be given a chance to find their footing.

More: SEC Approves spot Ethereum ETFs ProShares and Grayscale Ethereum Mini Trust

However, Ethereum ETFs may need to act quickly due to competing investment opportunities. Time is money. But even though regular ETH traders might not be happy with the price drop, Ethereum crypto bros will be glad to finally have their own spot ETFs.

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