ETH Spot ETF Approval: Analysts Hint at Undervaluation

IconCryptoNewsTerminal Staff29 May, 2024

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ETH Spot ETF Approval: Analysts Hint at Undervaluation

The long-awaited approval of an ETH spot ETF has sparked a flurry of excitement in the crypto market. However, analysts are suggesting that the asset's price may not yet fully reflect this development. Danny Chong, co-founder of DeFi platform Tranchess, believes that ETH remains underpriced despite the ETF approval. He anticipates sideways trading in the short term, with increased institutional adoption eventually driving prices higher. Brian Rudick, an analyst at GSR, echoes Chong's sentiment. He predicts a "large inflow of funds" once the ETH spot ETF launches, similar to the surge witnessed after the launch of the Bitcoin spot ETF. These expert opinions suggest that the full impact of the ETH spot ETF approval may still be unfolding. Investors who believe in the long-term potential of ETH may want to consider taking advantage of what they perceive as an undervaluation.

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