{"id":572547,"date":"2024-01-31T21:30:28","date_gmt":"2024-01-31T21:30:28","guid":{"rendered":"https:\/\/wncen.com\/?p=572547"},"modified":"2024-01-31T15:30:33","modified_gmt":"2024-01-31T15:30:33","slug":"ethereum-to-20000-spot-ethereum-etfs-bull-run","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-to-20000-spot-ethereum-etfs-bull-run\/","title":{"rendered":"Ethereum to $20,000: Analyst Sees Spot Ethereum ETFs Fueling Bull Run"},"content":{"rendered":"

A crypto analyst, Eric,\u00a0<\/span>believes<\/span><\/a> Ethereum (ETH) could spike to $20,000 in the upcoming bull run. The analyst said the potential launch of spot Ethereum exchange-traded funds (ETFs) in the United States will propel this upswing.<\/span><\/p>\n

Ethereum To $20,000 Possible<\/span><\/h2>\n

In a post on X, Eric cited Ethereum’s historical tendency to mirror Bitcoin (BTC), albeit with a one-cycle lag. In the previous bull market, the analyst noted that Bitcoin surged 22-fold from $3,100 to $69,000. Therefore, if Ethereum follows a similar trajectory, reaching $20,000 would be a realistic possibility.<\/span><\/p>\n

\"Ethereum<\/a>
Ethereum price trending upward on the daily chart | Source: ETHUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

As the analyst noted, Ethereum’s recent bear market bottom of $880 in 2022, if extrapolated using the 22x growth rate seen in BTC, places the coin at $19,360. However, the analyst believes Ethereum might surpass expectations, making $20,000 a base and a psychological round number to monitor closely.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts Bitcoin To Reach $60,000, Here\u2019s Why<\/a><\/div>\n

Supporting this forecast is the possible approval of a spot Ethereum ETFs. Like the spot Bitcoin ETF, this authorization will likely attract institutional investors and significantly boost Ethereum prices and liquidity. Institutional investors can gain exposure to Ethereum through these complex derivative products without the complexities of directly trading or storing the coin.<\/span><\/p>\n

While the optimism remains, the United States Securities and Exchange Commission (SEC) will likely follow the same path it took before approving the first spot of Bitcoin ETFs in January. For context, the strict agency failed to approve any spot Bitcoin ETF<\/a> for over ten years, citing market manipulation risks and the absence of proper monitoring tools.<\/span><\/p>\n

Will The US SEC Approve A Spot Ethereum ETF?<\/span><\/h2>\n

However, in a recent statement by The Block, Standard Chartered, a global bank, said the US SEC will likely approve Ethereum ETF’s first spot in May 2023. By then, the bank added, ETH prices will be trading at around $4,000, propelled by general market optimism.\u00a0<\/span><\/p>\n

The bank notes that the failure of the agency to classify ETH as a security further adds weight to this expectation. At the same time, Grayscale Investments, which is issuing Grayscale Ethereum Trusts (ETHE), wants to convert this product into an ETF. Each share traded at around $20 as of January 30.
\n<\/span><\/p>\n

\"ETHE
ETHE share price | Source: Grayscale<\/figcaption><\/figure>\n

Earlier, Grayscale won against the US SEC’s arguments, wishing to prevent the conversion of their Bitcoin Trust into an ETF. This win set the ball rolling for the eventual approval of the first spot Bitcoin ETFs in the United States.\u00a0<\/span><\/p>\n

Related Reading: XRP Price Turns Red As Risk of More Downsides Escalate<\/a><\/div>\n

Additionally, the fact that Ethereum Futures ETFs were recently approved and listed on the Chicago Mercantile Exchange is a net positive, paving the way for a potential listing in May 2024.\u00a0<\/span><\/p>\n

Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

A crypto analyst, Eric,\u00a0believes Ethereum (ETH) could spike to $20,000 in the upcoming bull run. The analyst said the potential launch of spot Ethereum exchange-traded funds (ETFs) in the United States will propel this upswing. Ethereum To $20,000 Possible In a post on X, Eric cited Ethereum’s historical tendency to mirror Bitcoin (BTC), albeit with a one-cycle lag. In the previous bull market, the analyst noted that Bitcoin surged 22-fold from $3,100 to $69,000. Therefore, if Ethereum follows a similar trajectory, reaching $20,000 would be a realistic possibility. As the analyst noted, Ethereum’s recent bear market bottom of $880 in 2022, if extrapolated using the 22x growth rate seen in BTC, places the coin at $19,360. However, the analyst believes Ethereum might surpass expectations, making $20,000 a base and a psychological round number to monitor closely.\u00a0 Related Reading: Crypto Analyst Predicts Bitcoin To Reach $60,000, Here\u2019s Why Supporting this forecast is the possible approval of a spot Ethereum ETFs. Like the spot Bitcoin ETF, this authorization will likely attract institutional investors and significantly boost Ethereum prices and liquidity. Institutional investors can gain exposure to Ethereum through these complex derivative products without the complexities of directly trading or storing the coin. While the optimism remains, the United States Securities and Exchange Commission (SEC) will likely follow the same path it took before approving the first spot of Bitcoin ETFs in January. For context, the strict agency failed to approve any spot Bitcoin ETF for over ten years, citing market manipulation risks and the absence of proper monitoring tools. Will The US SEC Approve A Spot Ethereum ETF? However, in a recent statement by The Block, Standard Chartered, a global bank, said the US SEC will likely approve Ethereum ETF’s first spot in May 2023. By then, the bank added, ETH prices will be trading at around $4,000, propelled by general market optimism.\u00a0 The bank notes that the failure of the agency to classify ETH as a security further adds weight to this expectation. At the same time, Grayscale Investments, which is issuing Grayscale Ethereum Trusts (ETHE), wants to convert this product into an ETF. Each share traded at around $20 as of January 30. Earlier, Grayscale won against the US SEC’s arguments, wishing to prevent the conversion of their Bitcoin Trust into an ETF. This win set the ball rolling for the eventual approval of the first spot Bitcoin ETFs in the United States.\u00a0 Related Reading: XRP Price Turns Red As Risk of More Downsides Escalate Additionally, the fact that Ethereum Futures ETFs were recently approved and listed on the Chicago Mercantile Exchange is a net positive, paving the way for a potential listing in May 2024.\u00a0 Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":572549,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,87803,6931,78803,7558,7523,3799,89583,91198],"class_list":["post-572547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethereum-bulls","tag-ethereum-price","tag-ethusdt","tag-gbtc","tag-grayscale","tag-sec","tag-spot-bitcoin-etfs","tag-spot-ethereum-etfs"],"acf":[],"yoast_head":"\nEthereum to $20,000: Analyst Sees Spot Ethereum ETFs Fueling Bull Run<\/title>\n<meta name=\"description\" content=\"A crypto analyst, Eric,\u00a0believes\u00a0Ethereum (ETH) could spike to $20,000 in the upcoming bull run fueled by spot Ether ETFs\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum to $20,000: Analyst Sees Spot Ethereum ETFs Fueling Bull Run","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-to-20000-spot-ethereum-etfs-bull-run\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-to-20000-spot-ethereum-etfs-bull-run\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Crypto-news-Template180.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Crypto-news-Template180.jpg?fit=1380%2C780"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ethereum","ethereum bulls","ethereum price","ethusdt","gbtc","grayscale","sec","spot bitcoin etfs","spot ethereum etfs"],"dateCreated":"2024-01-31T21:30:28Z","datePublished":"2024-01-31T21:30:28Z","dateModified":"2024-01-31T21:30:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum to $20,000: Analyst Sees Spot Ethereum ETFs Fueling Bull Run\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-to-20000-spot-ethereum-etfs-bull-run\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-to-20000-spot-ethereum-etfs-bull-run\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Crypto-news-Template180.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Crypto-news-Template180.jpg?fit=1380%2C780\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ethereum\",\"ethereum bulls\",\"ethereum price\",\"ethusdt\",\"gbtc\",\"grayscale\",\"sec\",\"spot bitcoin etfs\",\"spot ethereum etfs\"],\"dateCreated\":\"2024-01-31T21:30:28Z\",\"datePublished\":\"2024-01-31T21:30:28Z\",\"dateModified\":\"2024-01-31T21:30:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Crypto-news-Template180.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/572547"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=572547"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/572547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/572549"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=572547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=572547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=572547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}