Bitwise: Spot Ethereum ETF Could Push ETH Past $5,000

IconCryptoNewsTerminal Staff17 Jul, 2024

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Bitwise: Spot Ethereum ETF Could Push ETH Past $5,000

Bitwise, a crypto asset manager, predicts that if the United States launches a spot Ethereum exchange-traded fund (ETF), ETH's price could surpass $5,000. This is because a spot ETF would allow investors to buy and sell ETH directly, making it more accessible to a wider range of investors. Bitwise estimates that up to $15 billion could flow into a spot Ethereum ETF over an 18-month period, which would drive up the price of ETH. However, the report also cautions that the launch of a spot ETF could initially lead to a sell-off of Grayscale's ETHE, a popular Ethereum trust, as investors switch to the more liquid ETF.

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