Ethereum
Ethereum Could Climb to $22,000 by 2030, VanEck Predicts – Investment Giant Says Spot ETFs ‘Close to Being Approved for Trading’
Investment management company analysts VanEck have updated their Ethereum ETH/USD price prediction for 2030, setting a new target of $22,000.
What happened: VanEck, which is currently seeking approval to list a spot Ether ETF, announced its revised guidance on Wednesday. according to a report by The Block. The new price target is based on the potential of Ether ETFs, Ethereum scaling progress, and on-chain data analysis.
The authors of the VanEck report, who hold positions in Ethereum directly or through private funds, believe that continued growth in Ethereum’s market share and its leading position among smart contract platforms could strengthen an asset of $2.2 trillion, or $22,000 per coin, by 2030.
The $22,000 price target is the authors’ base price target. The bullish and bearish price predictions were $154,000 and $360, respectively.
Why is this important: VanEck is one of several Wall Street firms aiming to list ether spot ETFs following the success of the Bitcoin BTC/USD spot ETFs launched earlier this year. THE The SEC has given the green light to scout Ether ETFs last month.
“We anticipate that Ether spot ETFs are close to being permitted to trade on U.S. exchanges,” VanEck analysts said. They estimate that these ETFs could generate between $3.1 billion and $4.8 billion in net inflows during their first five months of trading. THE optimism contrasts with President of the SEC That of Gary Gensler position, which hinted at delays.
These estimates follow recent projections from a cryptocurrency analyst. To flowwhich set a base price target of $5,294 for ETH by the end of 2024. The bullish and bearish price predictions were $6,730 and $4,428, respectively.
Price Action: At the time of writing, ETH was trading at $3,863.06, following a 1.37% increase over the past 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga Publishers.