Ethereum

Galaxy

Bitcoin

Spot

Ethereum, the world's second largest cryptocurrency by market value, has seen a significant rise this week. 
The rise was due to SEC-sourced information that these ETFs would likely be approved, while the desperate wait for Ethereum Spot ETFs continued. 
Asset manager VanEck has the first Ethereum ETF application, which the Securities and Exchange Commission (SEC) is expected to rule on May 23. 
Here's what seven experts say about the potential results: 
Galaxy Digital CEO Mike Novogratz believes that a “widespread” shift in Washington over the last 24 hours has significantly changed the Ethereum ETF landscape. If the SEC's change of heart is politically motivated, “it's a seismic change,” Novogratz said. “If that's really what happens, prices will be much higher from here.” 
Joe Lubin, co-founder of Ethereum and founder of crypto infrastructure firm Consensys, expects an “explosion” of demand for ETH, which will likely lead to a supply squeeze and push prices higher, according to Lubin. Institutions that already have exposure to Bitcoin ETFs “will likely want to diversify with this second approved ETF,” Lubin told DL News. 
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“Crypto is in the process of going mainstream, and this progress will propel crypto to all-time highs,” Bitwise Chief Investment Officer Matt Hougan wrote in a blog post this week. However, he suggested that the catalyst was not sudden optimism in ETFs but the passage of the first piece of pro-crypto legislation in Washington history. 
Timo Lehes, co-founder of blockchain platform Swarm, thinks there will be “significant capital inflows” into Ethereum once the ETF is approved. “Once you invest in Bitcoin, you also look at something else as part of portfolio diversification,” he said. 
Adam McCarthy, an analyst at Kaiko, warned investors to be cautious: “Hong Kong ETFs are not oversubscribed and have already had mixed days with a few clear outflow days. Lack of staking is also a big factor and will likely impact demand further.” 
Finally, analysts Gautam Chhugani and Mahika Sapra of research firm Bernstein predict that the approval of the spot Ethereum ETF would push ETH to $6,600, a 75% increase. They noted that the SEC's approval of similar Bitcoin products in January spurred a 75% rally in the following weeks. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/what-to-expect-for-eth-and-overall-crypto-prices-if-ethereum-spot-etfs-are-approved-7-analysts-weigh-in/">What to Expect for ETH and Overall Crypto Prices if Ethereum Spot ETFs are Approved? 7 Analysts Weigh In</a>

What to Expect for ETH and Overall Crypto Prices if Ethereum Spot ETFs are Approved? 7 Analysts Weigh In

Bitcoin Sistemi EN

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