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Closely followed economist Alex Krüger believes approval of a spot Ethereum ($ETH) exchange-traded fund (ETF) could quickly send the top altcoin to new all-time highs (ATHs).
In a new Unchained “Bits + Bips” podcast, Krüger says the market has yet to price in a spot $ETH ETF approval.
He predicts an approval will send Ethereum soaring against Bitcoin ($ETH/$BTC) to at least .070 $BTC ($4,865) within months.
“If the ETF gets approved, which seems like it’s likely now, it’s kind of clear that with an ETF approval, we’re going to see all-time highs very, very soon. Because the market is not positioned for it. You were saying 25%. I would even think that the market had priced in almost like 0% probability or as close as it gets to no chance whatsoever.
$ETH has been one of the most hated coins, if not the most hated coin of this cycle, and it’s reflected on price. $ETH/$BTC is like .052 $BTC. So it does make sense for that to go all the way up to at least .070 $BTC ($4,865) in the next couple of months. These things happen usually rather fast.”
Krüger also believes there are institutions that would move to invest in an $ETH ETF product.
“I think there’s a lot of demand out there.”
$ETH/$BTC is trading for 0.05362 $BTC ($3,731) at time of writing. $ETH reached an all-time high of about $4,900 in November 2021.
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