Ethereum and Bitcoin ETFs are driving the growth of the crypto market
Ethereum ETFs are seeing significant momentum in Hong Kong, with investments exceeding 5 million Hong Kong Dollars (HK Dollars) entering the ChinaAMC ETF after a big rally on Tuesday; Harvest Global, Bosera and HashKey Capital funds also witnessed great success, with their trading volumes and share prices increasing by more than 18%.
US Market: Attention is focused on the US Securities and Exchange Commission (SEC) decision regarding Ethereum Spot ETFs.
Net new investments in Bitcoin spot ETFs reached $306 million on Tuesday
Analysts have raised the odds of approval for VanEck's Ethereum ETF from 25% to 75%.
The success of Ethereum exchange-traded funds in Hong Kong and the anticipation of the SEC's decision regarding the launch of these funds in the United States confirm the growth in investor interest, which may lead to increased demand and positively impact BTC and the crypto market.
Kaleo's optimistic outlook on Bitcoin and the crypto market
Kaleo expects that the crypto bull market has not yet begun, as Bitcoin is still in the accumulation phase, and its price may be able to reach between $150,000 to $200,000, and Ethereum (Ethereum-ETH) may rise to about 12,000. $.
Additionally, the influx of institutional capital is expected to spark a craze for altcoins and decentralized applications.
Despite the price of Bitcoin falling to around $69,000 and Ethereum to $3,737, Kallio remains optimistic and points to exceptional opportunities in the future. These optimistic forecasts are likely to cause increased interest from small investors and institutional investment, which could spur price increases across the crypto market.
