Economist Alex Krüger, who is closely followed by many, believes that the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) could have a significant impact on the price of the top altcoin, potentially sending it to new all-time highs (ATHs).
During a recent episode of the Unchained “Bits + Bips” podcast, Krüger expressed his belief that the market has not yet fully factored in the possibility of a spot ETH ETF approval. He predicts that if such an approval were to happen, Ethereum would experience a rapid surge against Bitcoin (ETH/BTC), reaching a price of at least .070 BTC ($4,865) within a few months.
Krüger stated, “If the ETF gets approved, which seems likely now, it’s clear that we will see all-time highs very soon because the market is not prepared for it. You mentioned a 25% probability, but I would even say that the market has priced in close to 0% probability or as close to no chance at all.”
He also highlighted the negative sentiment towards ETH in recent times, which has been reflected in its price. Currently, ETH/BTC is trading at around .052 BTC. Krüger believes that it makes sense for this ratio to increase to at least .070 BTC ($4,865) in the next few months, as these types of price movements tend to occur rapidly.
Furthermore, Krüger believes that there is a significant demand from institutional investors for an ETH ETF product. He stated, “I think there’s a lot of demand out there.”
At the time of writing, ETH/BTC is trading at 0.05362 BTC ($3,731). In November 2021, ETH reached an all-time high of approximately $4,900.
Stay updated and subscribe to receive email alerts from us. For the latest price action, follow us on X, Facebook, and Telegram. Don’t miss out on The Daily Hodl Mix.
Disclaimer: The opinions expressed in this article are not financial advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are done at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice. Please note that The Daily Hodl engages in affiliate marketing.