Closely followed economist Alex Krüger believes approval of a spot Ethereum (ETH) exchange-traded fund (ETF) could quickly send the top altcoin to new all-time highs (ATHs).
In a new Unchained “Bits + Bips” podcast, Krüger says the market has yet to price in a spot ETH ETF approval.
He predicts an approval will send Ethereum soaring against Bitcoin (ETH/BTC) to at least .070 BTC ($4,865) within months.
“If the ETF gets approved, which seems like it’s likely now, it’s kind of clear that with an ETF approval, we’re going to see all-time highs very, very soon. Because the market is not positioned for it. You were saying 25%. I would even think that the market had priced in almost like 0% probability or as close as it gets to no chance whatsoever.
ETH has been one of the most hated coins, if not the most hated coin of this cycle, and it’s reflected on price. ETH/BTC is like .052 BTC. So it does make sense for that to go all the way up to at least .070 BTC ($4,865) in the next couple of months. These things happen usually rather fast.”
Krüger also believes there are institutions that would move to invest in an ETH ETF product.
“I think there’s a lot of demand out there.”
ETH/BTC is trading for 0.05362 BTC ($3,731) at time of writing. ETH reached an all-time high of about $4,900 in November 2021.
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