Bitwise Manager Commented on Tomorrow's Ethereum (ETH) Spot ETF Launch!
Bitwise CIO expects Ethereum (ETH) to rise to $5,000.
Matt Hougan, Chief Investment Officer at crypto asset manager Bitwise, expects the leading altcoin to exhibit volatile movements during the launch of Ethereum's spot ETFs. ETH spot ETFs will be opened for trading as of tomorrow with the opening of the US stock markets.
Commenting on ETH in a note sent to clients on Tuesday, Hougan predicted that the price of ETH would reach all-time highs, rising above $5,000 sometime after the launch of spot Ethereum ETFs.
Experts said they expect the second-largest cryptocurrency by market cap to be “volatile” in the first few weeks after ETFs go live.
Bitwise's Chief Investment Officer, Matt Hougan, had the following to say about Ethereum spot ETFs:
I am confident that Ethereum (ETH) will reach new highs by the end of the year. “And if flows are stronger than many market commentators expect, the price could move even higher.”
Sales are expected to occur again from Grayscale Ethereum Trust (ETHE), as in Bitcoin. This may cause spot ETH ETFs to fall short of expectations.
