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Analysis: The launch of stake functionality for the US ETH Spot ETF may drive ETH to rebound from $3800 to $4700.
On October 7, on-chain analyst Yu Jin stated that the ETH of the US ETH Spot ETF is now allowed to be staked, which may be one of the reasons for ETH's rebound from $3800 to $4700 during this period (. Grayscale's two ETH Spot ETFs have staked 32,000 ETH in the past 9 hours. They conducted a large-scale ETH distribution 20 days ago, with each address receiving 3200 ETH. Last night, the announcement confirmed that the ETFs they manage can now stake ETH, and then they used 10 addresses to stake 32,000 ETH.