Cryptocurrency market maker Wintermute wrote Monday that it expects the Ethereum ETF to receive between $3.20 billion and $4 billion in assets in its first year. The firm expects the Bitcoin ETF to accumulate around $32 billion by the end of the year, meaning the Ethereum ETF will only receive between 10% and 12.5% of the total assets the Bitcoin ETF is expected to receive.
Wintermute said that in this scenario, the price of Ether could rise by 18% to 24%, bringing the price of the second largest cryptocurrency to $4,200. A new high for 2024, but still below Ether's all-time high of $4,800 set in 2021.
Wintermute said in the report that this conservative estimate is influenced by the lack of a staking mechanism, which could reduce the attractiveness of Ethereum as an ETF investment vehicle.
Pledging is a process by which Ethereum investors can lock up their assets in the network and receive a 3% yield paid in Ethereum. In its current form, an Ethereum ETF does not give investors that yield, which could deter them from seeking investment vehicles.
Wintermute: The Ethereum ETF will only receive 10% to 12.5% of the expected total Bitcoin ETF
2024-07-23 07:37:14
Crypto currency market manufacturer wintermute wrote on monday forecast ethereumdesk3cryptocurrencydesktopCrypto News
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