Tonight's ETF results for $ETH will have an impact on the market?

1. Not passing
Unfavourable Information.
ETH series experienced a big dump across the board, which may even lead to a market downturn.
2. All ETFs are passed at once.
Bad.
Just like the ETF of $BTC, if the ETF of Grayscale's $ETH is approved on the same day, it means that Grayscale's $ETH ETF will also be approved. Grayscale holds 3 million ETH with a market cap of $11 billion and a management fee of 2.5%. Because early users have been locked in for 2-3 years, they can finally sell their holdings. With the high management fee, there may be a huge amount of selling pressure in the short term. It is very likely to repeat the market performance of BTC two weeks after the ETF approval, when BTC fell from $48,000 to around $40,000.
3. Approved only vanEck's ETF application according to the application time
Bullish.
According to the application time, Grayscale's ETF will be reviewed on June 18th. Prior to that, vanEck, ARK21shares, and hashdex's ETFs need to be approved. This means that before June 18th, ETFs will almost all be on the buy side without any selling pressure. This is a major positive development for the market, and Ether will hit new highs.
4. Semi-pass
Unfavourable Information long exist at the same time.
Only by filing the 19b-4 document and obtaining approval after the submission of the s1 document, it may take several weeks or months.
This situation is the most complex because the favorable information landing will lead to a dump in funds, but the subsequent expectation is favorable. The intertwining of the two, the game of funds, and the battle between long and short positions.
But regardless of the above results, for long-term holders, it can be ignored. After all, the ETF is a long-term incremental capital, and BTC will eventually rise to 100,000, and ETH will also rise to 10,000!