VanEck Analysts Raise 2030 Ethereum Price Prediction to $22,000 Amid Spot Ether ETF Progress
Analysts at U.S. investment firm VanEck have significantly increased their 2030 price prediction for Ethereum, setting a new target of $22,000.
This optimistic outlook comes in the wake of developments surrounding spot ether ETFs, scaling advancements, and positive onchain data.
“We’ve raised our 2030 ETH price target to $22,000, influenced by ether ETF news, scaling progress, and our read of onchain data,” VanEck posted on X on Wednesday, linking to a report authored by analysts Matthew Sigel, Patrick Bush, and Denis Zinoviev.
VanEck is among several Wall Street investment managers seeking to list spot ether ETFs after successfully launching spot bitcoin ETFs earlier this year.
Last month, the Securities and Exchange Commission (SEC) approved spot ether ETFs, allowing investors to benefit from Ethereum’s price appreciation without directly purchasing the cryptocurrency. ETF sponsors will gain fee income as more assets flow into their funds.
We've raised our 2030 ETH price target to $22K, influenced by ether ETF news, scaling progress, and our read of onchain data. Additionally, we've analyzed how ETH and BTC perform in both traditional and crypto-only portfolios for optimal returns. @Matthew_Sigel @Patrick_Bush_VE…
— VanEck (@vaneck_us) June 5, 2024
“We anticipate that spot ether ETFs are nearing approval to trade on U.S. stock exchanges,” the VanEck analysts stated.
“This development would allow financial advisors and institutional investors to hold this unique asset with the security of qualified custodians and benefit from the pricing and liquidity advantages characteristic of ETFs.”
According to K33 Research, spot Ethereum ETFs could attract between $3.1 billion and $4.8 billion in net inflows during their first five months of trading.
A spokesperson for VanEck noted that the authors of the report “have positions in Ethereum directly or via private funds.”
The report clarifies that “the information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.”
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