Expectations for the launch of the Ethereum ETF are mixed among analysts, with some sharing their uncertainty.
With a potential ETF launch expected for early July, Andrew Kang, founder of crypto fund Mechanism Capital, expects further declines, predicting that ETH could fall as low as $2,400.
— Andrew Kang (@Rewkang) June 23, 2024
In his recent analysis, Kang said:
Before the ETF launch, I expect ETH to trade between $3,000 and $3,800. After [its potential launch] I expect it to [trade between] $2,400 to $3,000.
Kang thinks initial flows to the ETF may be limited for two main reasons.
First, the SEC’s unexpected approval in late May left little time to convince large ETH holders to switch to ETFs. Second, ETFs lack the benefits investors get from stacking activities, which may distance them.
Consequently, Kang says the fund may attract only 30% of the flows seen in Bitcoin ETFs in the first six months, roughly $1.5 billion to $4.5 billion.
On the other hand, QCP analysts previously predicted that Etherium could reach $4,000 again after the launch of an exchange-traded fund.
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