K33 Research, a cryptocurrency analysis company, has reported that the upcoming listing of an Ethereum (ETH) exchange-traded fund (ETF) in the United States could attract between $3 billion and $4.8 billion in funds within the first five months. This estimate is slightly higher than JPMorgan’s prediction of $3 billion for this year.
According to the report, this would mean that the ETF would accumulate between 800,000 and 1.26 million ETH, which is approximately 0.7% to 1.05% of the total token supply. This could lead to a supply shortage of ETH assets and potentially cause a “supply shock” in the ETH price. K33 analysts predict that with the launch of the Ethereum ETF, the price of ETH is expected to outperform BTC after experiencing a downward trend for nearly two and a half years. Vetle Lunde, Senior Analyst at K33 Research, stated, “This significant absorption of supply shock is likely to drive up the price of ETH.”
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Tags:
K33 Research
Ethereum
Ethereum ETF
Source Link:
https://www.coindesk.com/markets/2024/06/04/ether-price-poised-for-supply-shoc…
Note: The content of this article represents the author’s opinion and does not constitute investment advice.
Original Article Link:
https://www.bitpush.news/articles/6843410
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