Despite the recent launch of spot Ethereum ETFs, the price of ETH is still struggling. Many investors were hopeful that the introduction of these ETFs would provide a significant boost to the value of Ethereum, but so far, this has not been the case.
One of the reasons for this struggle could be the overall bearish sentiment in the cryptocurrency market. Bitcoin, the leading cryptocurrency, has also been facing challenges in maintaining its value, which has had a ripple effect on other digital assets like Ethereum.
Additionally, regulatory concerns surrounding cryptocurrencies have also contributed to the price struggle. The uncertainty around how governments will regulate digital assets has made some investors hesitant to jump into the market, leading to a lack of buying pressure.
Furthermore, the overall market volatility and lack of clear direction have made it difficult for Ethereum to gain momentum. Without a strong market trend to follow, the price of ETH has been fluctuating without any clear upward trajectory.
While the launch of spot Ethereum ETFs was seen as a positive development for the cryptocurrency, it seems that other external factors have prevented ETH from experiencing a significant price increase. As the market continues to evolve and adapt to regulatory changes, it remains to be seen how Ethereum will perform in the coming months.