OK SEC Ethereum-based spot exchange-traded funds will lead to an increase in the price of the asset by 75%, to $6,600. This opinion was expressed by Bernstein analysts Gautam Chhugani and Mahika Sapra, writes DL News.
They estimate that the approval of spot Bitcoin ETFs in January led to a 75% rise in digital gold. Experts expect a similar impact on the price of the second largest cryptocurrency by capitalization.
Galaxy Digital CEO Mike Novogratz said that if the “wide pivot” was politically motivated, then a “seismic shift” had occurred. In his opinion, prices will be much higher than now.
Bitwise CIO Matt Hougan noted that digital assets are becoming mainstream, and this will push them to new ATH. But the catalyst for the current rally was not sudden optimism about ETH-ETFs, he added.
On May 20, media reported that the SEC asked potential issuers to update Form 19b-4 in filings to launch the instrument. May 23 is the deadline for requests from VanEck and Grayscale.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
