There have been many discussions and opinions about how much the Spot Ethereum ETFs will affect the ETH price. Crypto analyst and trader Raman has also joined the conversation and revealed how these funds provide upside catalysts for Ethereum.
How The Spot Ethereum ETFs Provide A Bullish Setup For ETH Price
While alluding to the Spot Ethereum ETFs, Raman claimed in an X (formerly Twitter) post that the second half of this year will be the “most obvious bullish setup for the Ethereum ecosystem in recent history.” First, he stated that the Ethereum ETFs will unlock new capital into the Ethereum ecosystem.
The analyst believes this new money will greatly appreciate the ETH price, especially considering that Ethereum hasn’t witnessed such massive inflows in quite a while. He noted that the money that has moved into the Ethereum ecosystem over the last two years has just been the rotation of capital from traders who have continued to divest their money between several crypto assets.
Raman also belongs to the school that believes billions of dollars will flow into the Ethereum ecosystem through the Spot Ethereum ETFs. The analyst alluded to how the Spot Bitcoin ETFs have witnessed over $17 billion in net inflows and claimed Ethereum’s turn is next. Bitwise’s Chief Investment Officer (CIO) Matt Hougan previously predicted that the Spot Ethereum ETFs will attract $15 billion in their eighteen months of trading.
Other Headwinds That Are Set To Become Tailwinds
Raman also highlighted two other headwinds that will become tailwinds for Ethereum thanks to the Spot Ethereum ETFs. The analyst stated that the “regulatory witch hunt against ETH is ending.” He claimed that Ethereum has been under investigation since the Merge, something he believes made the crypto token “radioactive for institutions.”
However, Raman remarked that the “era of regulatory purgatory” has ended with the approval of the Spot Ethereum ETFs. The US Securities and Exchange Commission’s (SEC) approval of these funds has all but confirmed that the crypto asset is now regarded as a commodity, not a security. Raman added that this has cleared the way for new apps and innovation on Ethereum to flourish.
Lastly, Raman mentioned that the macro landscape is about to favor riskier assets like Ethereum. He noted how these risk assets had been sidelined until now as capital that could have flooded into crypto was diverted to traditional assets. However, as Raman stated, that is about to change as the largest capital markets worldwide are finally embracing crypto.
He added that new institutional and retail capital will flow into Ethereum (and Bitcoin) since Spot ETFs are the “safest on-ramps” into the crypto space. In line with this, Raman believes that Ethereum is ready for “prime-time adoption.”
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments