Ether could tumble 30% to $2,400 shortly after the spot Ether ETF issuers are given the greenlight to launch, says Mechanism Capital’s Andrew Kang.
Mechanism Capital’s Andrew Kang believes an Ether ETF would provide limited upside for the asset unless Ethereum “develops a compelling pathway to improve its economics.”
The forecast price could be a significant backtrack for the asset, given Ether already reached over $4,000 in March when Bitcoin tipped a new all-time high. It almost reached the same level again days before the U.S. Securities and Exchange Commission approved Ether ETFs.attracting 15% of the flows that spot Bitcoin ETFs have seen — which is in the 10-20% range estimated by Bloomberg ETF analysts Eric Balchunas and James Seyffart.
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