Ethereum Price Rally Expected Ahead of Spot ETF Launch, Predicts Crypto Investor
Crypto investor Arthur Cheong, known for his seasoned insights, thinks Ethereum (ETH) will report a wave of increased trading in anticipation potential ETFs for the popular altcoin.
As DeFiance Capital founder, he told his social media followers that Ethereum might ascend best 14% from its current price before spot ETH ETFs are available to investors.
Regulatory consent has been given for spot market Ethereum ETFs to be traded on US stock exchanges after the U.S. Securities and Exchange Commission (SEC) approved them.
Cheong argued that $4,500 might be reached before the first spot ETFs are traded.
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He also believes the spot ETH ETFs will draw substantial amounts of retail investor interest, rivaling perhaps the hype around spot Bitcoin (BTC) ETFs, which debuted earlier this year.
Matt Hougan, Chief Investment Officer of crypto fund manager Bitwise, has also given his opinion on the possible effects of ETH ETFs, predicting large investor inflows which could take Ethereum’s price beyond the previous all-time high around $4,900 reached in November 2021.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
