Economist Alex Krüger predicts that the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) could propel the cryptocurrency to record-breaking highs.
ETF Approval to Ignite Price Surge
Krüger believes the market has yet to factor in the impact of an ETH ETF approval. He anticipates that such approval would send Ethereum soaring against Bitcoin (ETH/BTC) to at least 0.070 BTC ($4,865) within months.
“If the ETF gets approved, it’s clear that we’re going to see all-time highs very soon,” Krüger said. “The market is not positioned for it.”
Institutional Demand for ETH
Krüger also believes that institutions would eagerly invest in an ETH ETF product.
“There’s a lot of demand out there,” he said.
ETH/BTC to Rise Significantly
ETH/BTC is currently trading at 0.05362 BTC ($3,731). Krüger predicts that this ratio could rise to at least 0.070 BTC ($4,865) in the coming months.
“These things happen usually rather fast,” he added.
Previous Highs
ETH reached an all-time high of about $4,900 in November 2021. With the potential approval of an ETF, the cryptocurrency could surpass this previous milestone.
