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    Home » Ethereum Will Approval of Spot ETF Give a Boost to the Price
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    Ethereum Will Approval of Spot ETF Give a Boost to the Price

    By adminJun. 25, 2024No Comments1 Min Read
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    Ethereum Will Approval of Spot ETF Give a Boost to the Price
    Ethereum Will Approval of Spot ETF Give a Boost to the Price
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    Expectations for the launch of the Etherium ETF are mixed among analysts, with some expressing their uncertainty. With the potential launch of the ETF expected in early July, Andrew Kang, founder of crypto fund Mechanism Capital, expects further declines, predicting that ETH could fall to $2,400.

    In his recent analysis, Kang stated, “Before the ETF launch, I expect ETH to trade between $3,000 and $3,800. After [its potential launch], my expectations are for [trading between] $2,400 and $3,000.”

    Kang believes that initial flows into the ETF may be limited due to two main reasons. Firstly, the unexpected delay in SEC approval in late May left little time to convince major ETH holders to transition to the ETF. Secondly, the benefits that investors receive from staking activities are lacking in ETFs, which may distance them.

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    As a result, Kang claims that the fund may only attract 30% of the flows observed in Bitcoin ETFs during the first six months, approximately $1.5 to $4.5 billion.

    On the other hand, QCP analysts earlier anticipated that Etherium could reach $4,000 again after the launch of the exchange-traded fund.

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