Anticipation and excitement continue to surround the potential approval of the Ethereum ETF in the world of cryptocurrencies. As the decision on the ETFs is expected today, notable figures known for their comments on cryptocurrencies are garnering attention with their statements. One such statement that has captured the market’s attention is from economist Alex Krüger.
Krüger, who is closely followed in the cryptocurrency world, stated that the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) event could quickly propel the top altcoin to reach all-time highs (ATHs). In a recent podcast episode, Krüger highlighted that there hasn’t been any pricing yet reflecting the approval of a spot ETH ETF on the market side. He believes that if approval is granted, Ethereum could rise to 0.070 BTC (approximately $4,865) in the ETH/BTC pair within a matter of months. Krüger also expressed his belief that institutions are ready to invest in ETH ETF products once approval is given.
Currently, Ethereum’s price has risen by 1.83% to surpass $3,800, trading at $3,806 at the time of writing. The market cap has also exceeded $450 billion, reaching $456 billion. Additionally, the 24-hour trading volume has increased by 23.81% to $32 billion, anticipating the potential approval of the spot ETH ETF.
The ETH/BTC pair is currently trading at 0.056 BTC, while ETH had previously reached an all-time high of $4,900 in November 2021.
Experts are anticipating the approval of the Ethereum ETF to come soon, and Krüger believes that ETH could quickly reach all-time highs. With a market cap of $456 billion, Ethereum is currently trading at $3,806.
For the latest financial and business news, you can follow COINTURK FINANCE.
Disclaimer: This article does not provide investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
