Bitwise Chief Investment Officer Matt Hougan evaluated the possible effects of spot Ethereum ETFs on ETH and stated that he predicted a big rise.

Hougan stated that spot Ethereum ETFs will be more effective compared to spot Bitcoin ETFs. According to him, there are three main reasons why ETFs are driving up the ETH price.

“Spot Ethereum ETFs will increase ETH price”
Matt Hougan said he expects a volatile market in the first weeks after the launch of spot Ethereum ETFs. Additionally, Grayscale predicted that the Ethereum Trust would convert into ETP by offering a spot option, leading to a significant outflow. Grayscale also experienced a long period of net outflow when spot Bitcoin ETFs were launched.

"I am confident that we will reach new heights by the end of the year," Hougan said. He supported the rise of ETH and emphasized that ETFs should not be expected to yield immediate results. Hougan explained three main reasons why he thinks Ether ETFs will have more impact than Bitcoin ETFs. First, he noted that Ether's inflation rate is equal to zero, whereas Bitcoin regularly experiences supply increases due to miners' block production. However, he did not forget to remind that BTC has a supply of 21 million.

Stating that Bitcoin miners had to sell BTC because it required too much effort during mining activities, Hougan stated that this situation was not valid for Ether and that ETH survived with the staking system. He also emphasized that ETH is advantageous because there is no direct cost.

Another point from Hougan was that approximately one-third (28 percent) of ETH was staked. Elaborating on this data, Hougan said, “Currently 28 percent of all ETH is staked, meaning it is effectively out of the market.” said.

As a result, Hougan claimed that the impact of Ether ETFs will lead to ETH rising above $5,000 by the end of 2024.

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