While the cryptocurrency market is looking forward to the launch of spot Ethereum ETFs, it is expected to have a positive impact on altcoin prices, especially the ETH price.
Darius Tabai, CEO of Vertex Protocol, an Arbitrum (ARB)-based DEX, also predicted that ETH ETFs could potentially have a positive impact on altcoins.
Speaking to The Block, Darius Tabai said that spot ETH ETFs may be launched next Tuesday and the market could be caught off guard by the upward price fluctuation in Ethereum.
“Given the turmoil and uncertainty around the launch of Spot Ethereum ETFs, I predict that the market has not fully priced in the impact of ETFs and we could see gains of over 25%.”
Spot Ethereum ETFs May Not Meet Expectations!
While Tabai expects ETFs to have a positive impact on Ethereum and altcoin prices, YouHodler manager Sergei Gorev has the opposite opinion.
YouHodler executive said the launch of spot Ethereum ETFs for trading may not have the same impact on the market as the spot Bitcoin ETFs launched in January.
“In terms of popularity, Ethereum is still the second-ranked coin, and the issue of staking in ETFs is still not completely resolved.
Many investors will not be happy to give up their staking rewards
Because in the current situation, staking for investing in ETFs on Ethereum will not be available.”
Mentioning that timing is important for ETFs, Gorev said, “It is currently summer and many investors are on holiday, and the transaction volume on spot exchanges has decreased by an average of 17% since the beginning of summer.” He stated that ETH ETFs may not meet expectations.
*This is not investment advice.