VanEck, a fund management firm, has raised its speculation for ETH’s value to $22,000. This is largely correlated to the approval of the Spot Ether ETF. Meaning, Ethereum could see a dip if the US Securities and Exchange Commission decides not to give the final nod of approval to S-1 registration forms. VanEck anticipates achieving the predicted value by 2030. That would mark a CAGR of 37.8% and a total return of almost 487% from the ongoing token value.
For reference, ETH is exchanging hands at $3,851.58, up by 1.90% in the last 24 hours and 1.86% in the last 7 days.
VanEck published this revised prediction on X, adding that scaling progress, onchain data, and ETF could influence the value. Spot Ether ETF has, for now, received approval for 19b-4 from the Commission. The exchange platforms can only launch the Ether ETF for public trading after they approve the registration forms.
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The SEC is likely to approve registration forms in the next couple of weeks. Gary Gensler, the SEC Chair, has previously approved the Spot Bitcoin ETF. The product has brought a large amount of inflow to the market by giving traders and investors sufficient exposure that fetches them decent returns at lower risk. It is now about Ether ETF—something that crypto enthusiasts believe will pave the way for more crypto ETFs.
VanEck has stated that the approval of the Spot Ether ETF could draw a minimum of $66 billion in free cash flow.
VanEck researchers have expressed confidence in Ether ETF’s performance. Under Matthew Sigel’s leadership, the team asserts that ETH’s compelling offer to entrepreneurs is driving its rapid market share growth. However, they have said that the free cash flow of $66 billion is only possible if the market share grows while the Ethereum network maintains its dominance on the list of smart contract platforms.
In the last 30 days, ETH has grown by 21.32%. Its market cap and 24-hour trading volume are up by 1.62% and 0.70%, respectively. The token has a stagnant movement on the price chart, per near-term predictions. It is estimated to be valued at $3,920.75 in the next 5 days and $3,920.63 in the next 30 days. The monthly growth would be a jump of approximately 2.05% from the current value. The volatility has surged to 11.30%, with the Fear & Greed Index showing 78 points. On a larger scale, Ethereum has bullish sentiments.
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ETH has always been presented as an altcoin that can dethrone Bitcoin (BTC) from the top spot. Analysts often refuse to comment on it, but the current speculated growth is largely possible if Spot Ether ETF goes live.
