Investor sentiment towards Ethereum has been marked by anxiety, with long-term holders experiencing diminishing unrealized gains while price lingers below 3,000 USD. A significant breakthrough above this threshold could restore confidence, reflecting patterns observed historically in the market.

The recent approval by the CBOE for 21Shares to stake ETH within its ETF offers a potential catalyst for growth. This development could enhance the appeal of holding ETH through the ETF, by providing additional yield via staking rewards, which may revitalize investor confidence.