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Author: ourcryptotalk.com
The Ethereum ecosystem has been growing rapidly in the past four years, with the number of daily users having 9x’d in that period.
Put on top of that the latest clearance for $ETH ETFs in the US and there are large firms taking notice.
Src: Bitwise
In a tweet on 6th June 2024, VanEck’s official account stated the following –
Ethereum is transforming sectors such as finance, banking, payments, marketing, advertising, social media, gaming, infrastructure, and artificial intelligence, according to VanEck. The forecast is based on the anticipation of ether being approved and the company’s analysis of on-chain data.
We anticipate that spot ether ETFs are nearing approval to trade on U.S. stock exchanges,” according to the report. “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.”
VanEck wrote that the disruptive power pushing ether to $22,000 is that Ethereum-based technology can offer lower costs, increased efficiency, and greater transparency. This shift, according to VanEck’s thesis, threatens to transfer significant market share from traditional financial and tech institutions, which cumulatively have a $15 trillion total available market, to blockchain-based solutions.
VanEck also notes that the free cash flows from revenue derived by holding ether are set to hit $66 billion by 2030, also driving ether’s valuation to its projected target.
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