Ethereum
VanEck Raises 2030 Ethereum Price Target to $22,000
Investment management firm VanEck is raising its 2030 Ethereum Ethe (ETH) price target to $22,000, following recent developments around the asset. “We increased our 2030 ETH price target to $22,000, influenced by Ether ETF news, progress, and our reading of on-chain data,” the company wrote in a statement. post on. “Additionally, we analyzed the performance of ETH and BTC in traditional and crypto-only wallets for optimal returns.”
JUST IN: $90 billion asset manager VanEck predicts Ethereum will hit $22,000 by 2030.
– Watcher.Guru (@WatcherGuru) June 5, 2024
VanEck is one of several asset management firms with a Spot Bitcoin ETF and an Ethereum ETF application pending. With the recent approval of Spot ETH ETFs by the SEC, full approval by the regulator is expected soon and hence the hype around the asset is increasing. Due to these updates, many price predictions are now bullish around Ethereum, and VanEck is updating them as well, setting a new target for the asset by 2030.
“Driven by a strong value proposition to entrepreneurs, the Ethereum network is likely to continue its rapid growth in market share with traditional financial market players and, increasingly, Big Tech,” says VanEck. “If it does so while maintaining its dominant position among smart contract platforms, we see a credible path to $66 billion in free cash flow for token holders supporting $2.2 trillion in assets, or $22,000 per piece, by 2030.”
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How High Can Ethereum Go After ETF Approval?
Experts Predict Spot Ethereum ETFs to Go Live this month, a much faster timeline than the Bitcoin ETFs previously approved in January. At press time, ETH is trading at $3,867.65, up 3% in the last week and 23% in the last 30 days. Ethereum’s all-time high is $4,891.70, which it reached on November 16, 2021. Many experts predict that after the approval of ETFs, Ether will follow the path of Bitcoin and reach new all-time highs when of the launch of its ETFs.
ETH reaching $5,000 will be the first step towards $22,000 by 2030 if VanEck’s prediction holds true. However, with the growing popularity of Ethereum and other cryptocurrency assets, a six-year timeline for a 6x price isn’t too far out in left field.