Ethereum Predicted to Reach $4,000 by May 23
In a recent video, Crypto YouTuber Lark Davis shared his insights on Ethereum’s price, suggesting that the cryptocurrency could hit $4,000 by the end of May. Davis also anticipates that Ethereum-based ETFs may soon enter the market, including DOGE and SOL ETFs.
Ethereum heading for $4,000
Davis forecasts that Ethereum will reach $4,000 by May 23, following the expected approval of a spot Ethereum ETF by regulators. Standard Chartered bank has also predicted this milestone, attributing it to the potential approval of a spot Ethereum ETF by the Securities and Exchange Commission, which could drive significant demand for the cryptocurrency.
BlackRock and other spot-based Bitcoin ETFs have previously accrued large amounts of BTC before receiving SEC approval, indicating a similar trend for Ethereum ETFs.
Although the SEC has delayed its decision on the Ethereum ETF, Davis aligns with Standard Chartered’s forecast of a likely approval on May 23.
DOGE, SOL, LINK, AVAX ETFs are likely: Davis
Davis suggests that once spot Ethereum ETFs are approved, hedge funds may begin launching exchange-traded funds based on other altcoins. He anticipates the emergence of ETFs for altcoins such as Dogecoin, Solana, Chainlink, and Avalanche by the end of 2024, influenced by recent statements from Franklin Templeton fund representatives.
In a Bloomberg interview, a representative from the fund hinted at potential ETF filings, with Ethereum being a promising candidate for the initial launch.
This article was originally published on U.Today
