The anticipation and excitement surrounding the spot Ethereum ETF in cryptocurrencies continue. Ahead of the expected decision on the ETFs today, some prominent figures known for their comments on cryptocurrencies are drawing attention with their statements. In this context, a statement made by Alex Krüger has captured the market‘s attention.
Will Ethereum Reach Its ATH?
Economist Alex Krüger, closely followed in the cryptocurrency world, stated that a potential spot Ethereum (ETH) exchange-traded fund (ETF) event could quickly push the top altcoin to all-time highs (ATHs).
In a new episode of a podcast he participated in, Krüger noted that there has not yet been any pricing towards the approval of a spot ETH ETF on the market side. He expressed the view that a possible approval could raise Ethereum to 0.070 BTC (approximately $4,865) in the ETH/BTC pair within just months.
If the ETF is approved, which it currently seems to be, it is very clear that we will see all-time highs very soon with the ETF approval. Because the market is not ready for this. You were saying 25 percent. I could even think that the market is priced with almost a 0 percent chance or no chance at all.
ETH has become one of the most hated coins in this cycle, if not the most hated, and this was reflected in its price. ETH/BTC is approximately 0.052 BTC. Therefore, it makes sense for this to rise to at least 0.070 BTC ($4,865) within the next few months. These kinds of things usually happen quite quickly.
Krüger also expressed his belief that there are institutions ready to invest in ETH ETF products once approval is granted.
I think there is a lot of demand out there.
What Is Ethereum’s Current Price?
As of the time of writing, Ethereum rose by 1.83% and surpassed $3,800, trading at $3,806. During this period, the market cap exceeded $450 billion, reaching $456 billion.
Additionally, the 24-hour trading volume increased by 23.81% to $32 billion ahead of the anticipated potential spot ETH ETF approval.
The ETH/BTC pair was trading at 0.056 BTC at the time of writing. ETH had reached an all-time high of $4,900 in November 2021.
