Lark addresses the recent sentiment that the Ethereum ETF has been a failure, drawing parallels to similar reactions during the Bitcoin ETF launch. He emphasizes that people seem to have short memories when it comes to market events.
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According to Lark, the current situation with Ethereum is remarkably similar to what happened with Bitcoin ETFs. He points out that there was an initial sell-off due to Grayscale outflows, followed by a price recovery. Lark reassures viewers that this pattern is normal and expected.
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Lark highlights that despite the negative sentiment, there were actually significant inflows into Ethereum ETFs. He mentions that seven Ethereum ETFs bought over $190 million in inflows. However, this was overshadowed by Grayscale's ETHE having $326 million in outflows.
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Lark remains optimistic about Ethereum's future. He suggests that once the initial selling pressure from Grayscale subsides, which he estimates could take another week or two, the market should stabilize. Lark emphasizes that Ethereum is a huge market that can absorb these outflows.
In conclusion, Lark advises viewers to maintain perspective. He reminds them that similar concerns were raised during the Bitcoin ETF launch, which ultimately proved unfounded. Lark believes that the current Ethereum ETF situation is not a failure, but rather a normal part of the market cycle that will eventually lead to positive outcomes for Ethereum.
