Amid the FTX hacker's wallet activity, worth $16.75M in ETH, and concerns, Ethereum ETFs' US launch could sway ETH's value while a US gov't shutdown threatens Bitcoin.
2,500 ETH, each valued at $4 million. Such transfers are often linked to selling activity, potentially exerting downward pressure on prices and affecting smaller investors. The ETH price could take a bullish trend soon with the launch of the various Ethereum ETFs in the United States.
The introduction of Ethereum-based ETFs by several companies on October 2, 2023, marks another potential factor influencing ETH's price. If all goes according to plan, and the U.S. Securities and Exchange Commission grants accelerated approval for up to nine ETF products on that date, it could have a significant impact.
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