Matt Hougan, the Chief Investment Officer (CIO) of Bitwise Asset Management, is foreseeing a significant bullish trend for Ethereum (ETH) based on multiple key factors.
In a recent interview with Scott Melker, Hougan expressed confidence that Ethereum spot exchange-traded funds (ETFs) could attract as much as $15 billion within 18 months following their anticipated approval.
“I see this as a middle-of-the-road prediction. We might exceed it or fall slightly short, but I firmly believe $15 billion is a realistic target,” Hougan remarked.
He also pointed out two additional bullish catalysts that could propel ETH to new heights: increasing acceptance of cryptocurrencies by the US government and Ethereum’s recent network upgrade, Dencun. This upgrade aims to lower costs for layer-2 transactions and enhance data availability.
“These projections often overlook the fact that we’re entering what typically becomes an Ethereum cycle. They also underestimate two significant tailwinds for ETH: the reduction of regulatory uncertainties and recent shifts in Washington’s stance on crypto. This represents a massive boost for Ethereum. Coupled with the impacts of the Dencun upgrade, the full implications on the market are yet to be fully appreciated,” Hougan elaborated.
As of the latest update, Ethereum is trading at $2,974, reflecting a decline of 3.6% over the past 24 hours.
Stay informed with timely updates directly to your inbox. Don’t miss out on crucial developments in the market.
For more insights and updates, follow us on X, Facebook, and Telegram.
Surf the latest news on The Daily Hodl Mix.
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors are urged to conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. All transfers and trades are conducted at your own risk, and any losses incurred are solely your responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it serve as an investment advisor. Please note that The Daily Hodl engages in affiliate marketing activities.
