Bitwise CIO: Ethereum Poised to Surpass ATH with Spot ETF Launch

IconCryptoNewsTerminal Staff18 Jul, 2024

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Bitwise CIO: Ethereum Poised to Surpass ATH with Spot ETF Launch

Matt Hougan, CIO of Bitwise, predicts that the long-awaited Ethereum spot ETF could propel ETH prices to new heights, potentially exceeding $5,000. He attributes this surge to a supply shock, as Ethereum's spot ETF would likely have a lower inflation rate compared to Bitcoin's. Hougan notes that Ethereum's price has been buoyed by its issuance being offset by the ETH burned, resulting in near-zero inflation. Moreover, with over 40% of the total supply staked on the Ethereum network, the CIO believes that supply and demand dynamics will inevitably drive prices higher.