Ethereum
VanEck Sets $22,000 Price Target for Ethereum by 2030 Amid Expected ETF Approval
VanEck set a new price target for Ether (ETH), the native token of the Ethereum protocol, predicting it will reach $22,000 by 2030.
The forecast represents a massive increase from its current level price approximately $3,850.
The global investment firm previously predicted that Ether ETFs could surpass their Bitcoin counterparts in terms of market size.
In his last June 5 reportVanEck attributed these optimistic forecasts to Ethereum’s disruptive capabilities and the cash flow it generates for token holders.
VanEck’s comprehensive analysis highlights Ethereum’s impact across multiple industries, including finance, banking, payments, marketing, advertising, social media, gaming, infrastructure, and artificial intelligence.
The company believes that the approval of Ether ETFs, coupled with on-chain data analysis, supports their prediction.
“We anticipate that Ether spot ETFs are close to being permitted to trade on U.S. exchanges,” the report said.
“This development would allow financial advisors and institutional investors to hold this unique asset securely with qualified custodians, while benefiting from the pricing and liquidity advantages characteristic of ETFs. »
According to VanEck, the disruptive power pushing Ether to $22,000 is the ability of Ethereum-based technology to offer lower costs, more efficiency, and greater transparency.
According to the company, this shift could potentially shift significant market share from traditional financial and technology institutions, which have a total available market of $15 trillion, to blockchain-based solutions.
The report also projects that free cash flow from revenue generated from holding Ether will reach $66 billion by 2030, confirming its projected valuation.
Ether has soared more than 63% since the start of the year, according to data from CoinMarketCap.
Ryan Sean Adams, co-founder of Bankless, noted that despite fewer users, the Ethereum blockchain generates three times more fees than the major Layer 2 networks and Solana combined.
Adams later called it a “modern miracle” in a June 6 X. job.
Layer 2 solutions pay Ethereum fees to settle transactions on the main chain and benefit from its security.
VanEck’s proposed Ether spot ETF, which already carries the symbol “ETHV” and is listed on the Depository Trust and Clearing Corporation (DTCC), is currently inactive and awaiting regulatory approval.
Last month, crypto asset trading firm QCP Capital predicts a potential 60% rally in the price of Ethereum, pushing it to around $6,000 if a spot ETF is approved.
QCP’s bullish outlook aligns with that of research firm Bernstein, which noted that the sustained influx of demand seen by Bitcoin ETFs following approval would likely result in similar price action for Ethereum.
According to data from the crypto.news price page, Bitcoin (BTC) jumped 66% from around $44,300 to a high of $73,700 in the two months after the ETF was approved.