- An organization that has applied to market a spot ether ETF, VanEck, has increased its price projection for Ethereum to $22,000 by 2030, according to its analysts.
- The forecast was “influenced by ether ETF news, scaling progress,” and a “read of on-chain data,” according to the report’s authors.
The U.S. financial firm VanEck, which has applied to market a spot ether ETF, has increased its price projection for Ethereum ETH +1.44% to $22,000 in 2030, according to its analysts.
Based on our analysis of onchain data, scaling advancements, and news about ether ETFs, we have increased our target price for ETH by $22,000 by 2030. On Wednesday, VanEck sent a link to the paper written by Matthew Sigel, Patrick Bush, and Denis Zinoviev on X.
The company, which launched bitcoin ETFs on Wall Street in January, is among several Wall Street investment managers currently attempting to market ether ETFs. Spot ether ETFs were approved by the Securities and Exchange Commission last month.
Without having to purchase the tokens directly, investors who buy the exchange-traded funds will profit if the price of the cryptocurrency increases. Similarly, as more assets flow into the ETFs, the fund issuers earn more money from fees.
The VanEck analysts predicted in their paper that spot ether ETFs are getting closer to being approved for trading on US stock exchanges. With the protection of certified custodians, this innovation would enable financial advisors and institutional investors to own this special asset and take advantage of the ETF’s price and liquidity advantages.
Spot Ethereum ETFs may draw net inflows of $3.1 billion to $4.8 billion in their first five months of trading after listing, predicts K33 Research.
A representative for the company stated that the authors of the VanEck study own direct or indirect interests in Ethereum through private funds. According to the study, the information included herein represents the opinion of the author or authors, and not necessarily that of VanEck or its other employees.
Ethereum’s ongoing expansion
As to the survey, the Ethereum network is anticipated to sustain its swift increase in market share from conventional financial market players and a growing number of Big Tech companies. Analysts see a plausible route to $66 billion in free cash flow to token holders sustaining a $2.2 trillion asset, or $22,000 per coin, by 2030 should it do so while keeping its leading position among smart contract platforms.
The authors added, “ETH can be viewed as ‘Digital Oil’ since it is used up through Ethereum activities.
Since spot bitcoin ETFs started trading in January, Bitcon’s price has increased by 54%, to nearly $71,000 from about $46,000. Alongside VanEck, prestigious Wall Street corporations like BlackRock and Fidelity introduced spot bitcoin ETFs.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
