 ▲ Ethereum (ETH) ©Coin Leaders |
Nate Geraci, CEO of ETF Store, an American ETF specialist, said through “It is highly likely that it will be approved by some time,” he said.
Eric Balchunas, a Bloomberg ETF analyst, also reported through there is.
Meanwhile, Andrew Kang, co-founder of mechanism capital, a cryptocurrency investment company, analyzed through did.
He said, “Fund inflow into the ETH spot ETF is expected to be lower than market expectations. The approval came suddenly, so the issuer did not have time to persuade existing ETH holders to switch to the ETF, and ETH spot holders will have to give up staking and DeFi yields. The ETF itself was also less attractive. Before the ETF launch, ETH is expected to trade between $3,000 and $3,800, and after ETF approval, ETH is expected to trade between $2,400 and $3,000 by the end of this year or early next year. “It will also break an all-time high, but the price of the ETH/BTC pair will fall further,” he explained.
According to CoinMarketCap, the price of Ethereum (ETH), the second-largest coin in market capitalization, is at $3,418 as of 10:11 am on this day, down 2.53% from 24 hours ago.
