Analysts Predict ETH Price Will Shoot to at Least $6,000 Following ETF Approval

Breaching the previous all-time high of $4,800 is only a matter of time, analysts say.

By: Pedro Solimano Loading...

Analysts Predict ETH Price Will Shoot to at Least $6,000 Following ETF Approval

The path has cleared for Ethereum to break its previous all-time high and climb to at least $6,000 after the U.S. securities regulator approved the spot Ethereum Exchange-Traded Fund, analysts say.

Ethereum’s native token Ether already roared upward in price in the prelude to the approval. The token is up 27% in the past 14 days, now trading for $3,716, although it dropped 3% along with the rest of the market in what seems like a “sell the news” event.

Michael Van de Poppe, CEO of MN Trading, said ETH is set to climb another 60% to at least $6,000 in the upcoming months.

“If Ethereum runs to 0.08 BTC in the upcoming period and Bitcoin stabilizes at the current price levels or makes a slightly higher all-time high, price predictions for Ethereum could be between $5,500-6,500 per Eth,” Van de Poppe said.

Institutional Investors' Inflows

And after months of sluggish token appreciation–and tension regarding whether the ETF approval would be granted–Thursday’s move from the SEC is a welcome sign for Ethereum holders.

Investors speculate spot ETH ETFs will drive billions of dollars of inflows from institutional investors who would rather hold an ETF, which uses traditional financial infrastructure, than hold cryptocurrency directly.

Bitcoin ETFs have attracted about $40 billion in assets since their approval in January, according to data by The Block.

QPC & Standard Chartered

Singapore-based crypto investment firm QPC Capital has also touted the potential for a 60% price rally. In a Thursday Telegram broadcast, the firm said that if the Ethereum ETF were to follow Bitcoin ETF flows after it’s January approval, Ether could see a $6,000 price tag.

Standard Chartered’s target is higher, predicting ETH could reach $8,000 by the end of this year and $14,000 by 2025, according to a research note published before the ETF approval, last week.

“It’s unclear how much Ethereum is going to accelerate. However, a new all-time high is on the horizon after the listing has been taking place,” added Van de Poppe.

Long Positions

His views echoed those of Co-Chief Investment Officer of Transform Holdings, a digital asset firm, Wes Levitt.

Levitt also told The Defiant he is also expecting a price tag likely in the $6,000 range.

“The start of ETH ETFs trading (not just the rumors of it) should be enough of a catalyst to push ETH to a new all-time high,” Levitt said. “If inflows are similar to those of the BTC ETFs, which have seen enormous success among investors, then price is expected to soar.

Both Van de Poppe and Levitt claimed that investors should position themselves long Ethereum for the foreseeable future. Von Poppe, in fact, unveiled that his portfolio is favoring Ethereum over Bitcoin, especially considering the former has been slower to appreciate.