Ethereum ETFs Will Boost Prices Beyond $5,000, According to Crypto Expert
23.07.2024 19:52 1 min. read Alexander Stefanov
Today marks the debut of spot Ethereum ETFs in the USA, following the earlier launch of spot Bitcoin ETFs.
Despite Bitcoin’s success with ETFs, Ethereum is expected to attract significant, though smaller, investment inflows compared to Bitcoin.
Analysts predict that while the price of Ethereum may not surge immediately, it will eventually rise due to these ETFs. Matt Hougan from Bitwise forecasts that Ethereum’s price could exceed $5,000 a few months after trading begins.
Hougan, in a recent post on X, noted that initial trading for Ethereum ETFs is lighter compared to Bitcoin’s first ETF trading day. However, he sees the involvement of major market players as a positive sign and believes that investors should have access to these financial products.
He also dismissed claims that Bitcoin ETF investors would switch to Ethereum, asserting that investors are likely to add ETH to their portfolios without replacing BTC.
Hougan highlighted that the real value of ETFs lies in providing equal market access to both ordinary and institutional investors, a principle being realized once again today.
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