Economist Alex Krüger, a well-respected figure in the field, has expressed his belief that the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) could have a profound impact on the altcoin’s price, potentially pushing it to new all-time highs (ATHs).
During a recent episode of the “Bits + Bips” podcast on Unchained, Krüger stated that the market has yet to fully factor in the possibility of an approved spot ETH ETF. He went on to predict that if such an approval were to happen, it could cause Ethereum to surge against Bitcoin (ETH/BTC), potentially reaching a level of at least 0.070 BTC ($4,865) within a matter of months.
Krüger explained, “If the ETF gets approved, which seems likely now, it’s clear that with an ETF approval, we’re going to see all-time highs very soon. The market is not prepared for it. Some have estimated a 25% chance, but I believe the market has priced in almost 0% probability or as close to no chance as possible.” He further added, “ETH has been one of the most disliked coins, if not the most disliked coin, of this cycle, and its price reflects that. Currently, ETH/BTC is at around 0.052 BTC. So it makes sense for that to increase significantly to at least 0.070 BTC ($4,865) in the next few months. These things tend to happen quite rapidly.”
Krüger also expressed his belief that there is a significant demand among institutions for an ETH ETF product, stating, “I think there’s a lot of interest out there.”
At the time of writing, ETH/BTC is trading at 0.05362 BTC ($3,731). ETH reached its ATH of approximately $4,900 in November 2021.
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