Coin regarded with skepticism by many, Ethereum (ETH), could reach new all-time highs if a spot ETH exchange-traded fund (ETF) is approved, according to economist Alex Krüger. In a recent podcast, Krüger argues that the market has not yet factored in the possibility of an ETH ETF approval, and predicts that such an approval would drive the price of Ethereum against Bitcoin (ETH/BTC) to at least .070 BTC ($4,865) within a few months. Krüger believes that the market has priced in a near-zero probability of approval, and that the negative sentiment towards ETH has been reflected in its price, currently sitting at .052 BTC. He suggests that the approval of an ETH ETF could bring significant demand from institutional investors. ETH/BTC is currently trading at 0.05362 BTC ($3,731), well below its all-time high of about $4,900 reached in November 2021.
Summary:
- Economist Alex Krüger believes that the approval of an ETH ETF could propel Ethereum to new all-time highs.
- Krüger predicts that an approval would push the price of Ethereum against Bitcoin to at least .070 BTC ($4,865) within months.
- The market has not yet priced in the possibility of an ETH ETF approval, according to Krüger.
- He suggests that the negative sentiment towards ETH has contributed to its current price of .052 BTC.
- Krüger believes there is significant demand from institutional investors for an ETH ETF.
- ETH/BTC is currently trading at 0.05362 BTC ($3,731), well below its all-time high of about $4,900 reached in November 2021.
