Ethereum ETF Launch: Old Ethereum Foundation Wallet Sells Million in Ethereum.

With Spot Ethereum ETFs at the tip, Ethereum Foundation sold millions of Ethereum.

Earlier today, Analytics account @spotonchain, announced that an ancient Ethereum Foundation wallet linked to the Ethereum ICO sold 100 ETH for 345,179 DAI stablecoins. This occurred a few hours to the launch of the spot ETF.

According to the information shared by @spotonchain, before the trade was carried out, the same wallet of the aforementioned which is linked to the Ethereum initial coin offering (ICO), withdrew 3,200 ETH to the Kraken exchange. The amount of ETH is valued at $11.2 million, the X analytics account said.

Previously, the Ethereum Foundation had previously made sales which when added to this recent trade amounts to 5,566 ETH.

Ethereum ETFs to draw $4 billion in inflows: Wintermute

Last week, the U.S. Securities and Exchange Commission (SEC) approved spot Ethereum exchange-traded funds, and today, July 23, 11 spot ETFs based on Ethereum will begin trading.

The Chicago Board Options Exchange (CBOE) has confirmed the launch of five of these Ethereum spot ETFs, offered by Fidelity, Invesco Galaxy, Franklin Templeton, VanEck, and 21Shares.

Chinese cryptocurrency journalist Colin Wu reports that trading firm Wintermute predicts spot Ethereum ETFs could attract up to $4 billion in capital inflows within the next year. Wintermute analysts also anticipate a 24% increase in Ethereum’s price over the coming year.