Ethereum ETFs Launched — Why is ETH's Price Dropping?

The launch of Ethereum (ETH) spot ETFs in the U.S. saw unexpected price declines due to factors like a 'sell-the-news' event, significant outflows from Grayscale Ethereum Trust, long position liquidations, and broader market downturns. Despite these setbacks, experts remain hopeful for ETH's upward trend in the near future.