Jupiter Zheng, a partner at Hashkey Capital Liquid Fund, analyzed that when an ETF (Exchange-Traded Fund) is launched, the Grayscale Ethereum Trust Fund might experience outflows. This phenomenon could result in downward pressure on the price of ETH and impact market sentiment in the short term. He mentioned that similarly, when a Bitcoin ETF was launched, a similar trend was observed where investors might prefer cheaper options. Nevertheless, the dynamics of fund flows and their specific impacts on the market require continuous monitoring and analysis.