Ethereum's recent price movement has been impacted by several factors, including the challenges faced by EtherStrategy, an Ethereum-based fund. The fund's decision to refund depositors after a problematic launch, marked by a misdirected funds bug and low interest, has contributed to a negative sentiment surrounding Ethereum. Additionally, the Federal Reserve's hawkish stance, maintaining its key policy rate due to inflationary concerns, has put pressure on the broader market, including cryptocurrencies. These elements have led to fluctuations in Ethereum's price, with a notable decrease observed today.
The Volatility Shares Trust 2x Ether ETF (ETHU) is currently priced at $7.08 as of 7:00 AM on Saturday, February 1.