Bitwise anticipates that the U.S. Ethereum spot ETF will help ETH break through its historical high
According to BlockBeats news on July 17, Bitwise stated that the launch of Ethereum spot ETF in the United States next week is expected to push the price of this second largest cryptocurrency to a historical high of over $5000.
Bitwise Chief Investment Officer Matt Hougan wrote in a report on Tuesday that such an increase may not happen immediately and due to funds flowing out from Grayscale Ethereum Trust valued at $11 billion (after its conversion into an ETF), prices might start fluctuating unpredictably.
Nevertheless, "I am confident about reaching new highs by the end of the year," Hougan wrote, "If fund inflows are stronger than many market commentators expect, prices could be even higher." (CoinDesk)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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