ETH Price Prediction: Could It Hit $10K by Year-End With Spot ETF Approval?
CryptoNewsTerminal Staff10 Jun, 2024
ETH Price Prediction: Could It Hit $10K by Year-End With Spot ETF Approval?
Analyst Predicts ETH Could Reach $10K by Year-End with Spot ETF Approval Edouard Hindi, Chief Investment Officer at Tyr Capital, foresees the possibility of Ethereum (ETH) reaching $10,000 by the end of the year. This prediction is contingent upon the approval of a spot ETH exchange-traded fund (ETF). According to Hindi, the approval of a spot ETH ETF could infuse the market with $5 billion to $10 billion in new capital in the short to medium term. This influx of capital, in turn, could propel ETH to new all-time highs by December 2023. The approval of a spot ETF would provide investors with an easier and more regulated way to gain exposure to ETH. This could attract institutional investors and other large players into the market, further boosting demand for the cryptocurrency. While the prediction of a $10,000 ETH price by year-end remains speculative, the approval of a spot ETF could significantly impact ETH's performance in the coming months. Investors should monitor the regulatory landscape and market developments closely to make informed investment decisions.
