This week, the second-largest cryptocurrency Ethereum skilled a big decline in worth regardless of the extremely anticipated launch of a spot ETH ETF. The coin worth dropped 13.3% from a excessive of $3560, settling at $3258, whereas its market cap fluctuated round $391.8 billion. This downturn was influenced by a substantial outflow from the Grayscale ETF ($ETHE), echoing the sample noticed with Bitcoin following its ETF debut in January. Market observers recommend that this pattern of an preliminary decline may precede a considerable rally for the asset.