The anticipation and excitement surrounding the Ethereum ETF in the world of cryptocurrencies continue to grow. As we await the decision on the ETFs today, some well-known figures in the crypto community are making statements that are grabbing the attention of the market. One such statement has been made by economist Alex Krüger.
Krüger, who is closely followed in the cryptocurrency world, stated that the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) could have a significant impact on the price of the top altcoin, potentially pushing it to all-time highs (ATHs). He mentioned that the market has not yet priced in the approval of a spot ETH ETF, and he believes that if it were to be approved, Ethereum could reach a value of 0.070 BTC (approximately $4,865) in the ETH/BTC pair within a few months. Furthermore, Krüger expressed his belief that there are institutions ready to invest in ETH ETF products once approval is granted.
As of now, Ethereum’s price has risen by 1.83% and has surpassed $3,800, trading at $3,806. The market cap has also exceeded $450 billion, reaching $456 billion. Additionally, the 24-hour trading volume has increased by 23.81% to $32 billion in anticipation of the potential spot ETH ETF approval. The ETH/BTC pair is currently trading at 0.056 BTC, and in November 2021, ETH had reached an all-time high of $4,900.
Experts are anticipating the approval of the Ethereum ETF in the near future, and Krüger believes that if approved, Ethereum could quickly reach all-time highs. Currently, Ethereum is trading at $3,806 with a market cap of $456 billion.
Please note that the information presented in this article should not be taken as investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
