$ETH
Bernstein expects the ETH rate to rise to $6600
Bernstein researchers Gautam Chhugani and Mahiki Sapra estimate that the spot ETH-ETF approval will result in a 75% increase in the value of the Ethereum digital currency. So in the next few months the price will reach $6600. They noted that the US Securities and Exchange Commission (SEC) approval of a similar product for Bitcoin (BTC) was the reason for the 75% increase in the price of the flagship cryptocurrency in the following weeks.
“We expect similar price movements for Ethereum,” Chugani and Sapra said in the report. Galaxy Digital CEO Mike Novogratz said a “widespread” turnaround in Washington policy in a matter of days, has turned competing Ethereum ETFs into the bottom, according to Galaxy Digital CEO Mike Novogratz. “If the transformation in the SEC's outlook is politically motivated, then “this is a seismic shift,” he said. “If that happens, prices will be much higher.”
Consensys founder Joe Lubin assured that he expects a large influx of funds into ether if the ETF is launched. He believes the fund's approval will lead to reduced supply and higher prices.
