According to PANews, Grayscale, a cryptocurrency asset management company, has submitted a notice to the U.S. Securities and Exchange Commission (SEC) on May 7th to withdraw its Ethereum (ETH) futures ETF application. The SEC was originally scheduled to make a final decision on Grayscale's Ethereum futures ETF on May 30th. Grayscale initially submitted the 19b-4 application for the Ethereum futures ETF on September 19, 2023. If approved, the ETF would have been listed on the New York Stock Exchange.

VanEck's bold prediction for Ethereum (ETH) has generated significant excitement in the cryptocurrency community. If Ethereum, currently trading below $4,000, reaches the $22,000 mark, it could result in substantial profits for investors. While some may find this forecast ambitious, a look at Bitcoin's historical performance suggests that such a surge is not entirely out of reach. Ethereum's standing as the second-largest cryptocurrency by market cap and popularity lends further credibility to this prediction.
VanEck's Ethereum Price Prediction
VanEck, a well-known Wall Street Investment Manager, has projected that Ethereum's price could reach $22,000 by 2030. This prediction is influenced by the potential impact of Ethereum ETFs, scaling advancements, and on-chain data analysis. VanEck has expressed strong enthusiasm for Ethereum, referring to it as a revolutionary asset comparable to "Digital Oil."
VanEck's team is actively pursuing the Ethereum ETF market, anticipating significant inflows upon listing. Before the approval of ETH ETFs, VanEck predicted that these ETFs could attract $3.1 to $4.8 billion in inflows within the first five months. Following ETF approval, VanEck updated their 2030 ETH price target to $22,000, citing factors such as ETF news, scaling progress, and on-chain data trends.
Potential Impact of the $22,000 Prediction
If Ethereum's price reaches $22,000, it would transform the digital economy significantly. Currently, Ethereum supports 20 million monthly active users and processes trillions of dollars in transactions annually. At its current price, Ethereum has a market cap of $462 billion and a trading volume of $13.9 billion.
Reaching a price of $22,000 would elevate Ethereum's market cap to approximately $2.6 trillion, surpassing Bitcoin's current market cap of $1.3 trillion. This growth would create substantial wealth for Ethereum investors, potentially turning many into millionaires. For instance, an investment of $10,000 at the current price would yield approximately 2.6 ETH tokens. If the price rises to $22,000, this investment would be worth $57,142, generating a profit of $47,142.
Feasibility of the $22,000 Target
VanEck's prediction is backed by several factors, including Ethereum's dominance among smart contract platforms and the potential to generate $66 billion in cash flows by 2030. This cash flow is projected to support Ethereum's $2.2 trillion market cap when the price reaches $22,000. Key growth drivers include the blockchain's utility, the expansion of digital finance, and advancements in artificial intelligence.
However, there are challenges to achieving such substantial growth. Ethereum's current price is significantly lower than the $22,000 target, and reaching this milestone would require overcoming several obstacles. One major concern is the possibility of Ethereum being classified as a security, which could hinder its development and price appreciation. Although the SEC has approved Ethereum ETFs, the classification issue remains unresolved, posing a potential threat to Ethereum's growth.
Final Thoughts
VanEck's prediction of Ethereum reaching $22,000 by 2030 is ambitious but not entirely implausible. The success of this forecast depends on various factors, including regulatory clarity, technological advancements, and market dynamics. If achieved, it would mark a significant milestone in the cryptocurrency industry, generating considerable wealth for investors and solidifying Ethereum's position as a leading digital asset.
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- K33 Research predicts strong investment interest in Ethereum ETFs at launch.
- Expected inflows by K33 Research: $3.1 billion to $4.8 billion within 5 months.
- Balchunas forecasts lower inflows: $1.4 billion to $2.8 billion.
- K33 Research's optimism is based on Bitcoin ETFs' success, which have attracted around $14.8 billion.
- Despite varying figures, both K33 Research and Balchunas anticipate a highly positive response for Ethereum.
In late May, the U.S. approved several Ethereum ETFs, marking a significant milestone for the cryptocurrency market. However, the full impact of these new financial instruments is yet to be felt, as none of the eight approved applications have received the complete go-ahead for trading to commence. Despite this, K33 Research anticipates that these ETFs will have a massive impact upon launch.
This article will delve into K33 Research's projections for the Ethereum ETFs and their potential implications for Ethereum and the broader crypto market.
K33 Research's Outlook
According to data from Farside, spot Bitcoin ETFs are currently performing exceptionally well. On June 4, these ETFs experienced their second-best net inflow day, with a combined total of $886.6 million. Fidelity’s FBTC fund led the way with an inflow of $378.7 million, followed by BlackRock’s IBIT at $274.4 million, and Ark 21 Shares. These figures represent the highest net inflows since March 12, just before Bitcoin reached its all-time high of $73,800, when ETFs saw an inflow of $1.04 billion.
K33 Research suggests that a similar trend could be expected for Ethereum ETFs. Their prediction is based on the relative global assets under management (AUM) market share between Ethereum and Bitcoin. Currently, Ethereum's market share stands at around 28% of Bitcoin’s. Based on this ratio, K33 forecasts that Ethereum ETFs could attract approximately $4 billion in inflows within the first six months of their launch.
Correlation to Bitcoin ETFs
Farside data reveals that U.S. spot Bitcoin ETFs have accumulated around $14.8 billion so far, now holding over 1 million Bitcoin, which accounts for about 5% of the total Bitcoin supply. Drawing a parallel, K33 Research notes that institutional funds currently control 3.3% of Ethereum’s circulating supply. They predict that Ethereum ETFs will gather between $3.1 billion and $4.8 billion post-launch, translating to about 750,000 to 1 million ETH, or 0.65% to 0.85% of Ethereum's current supply.
Additionally, the Ethereum CME futures market, currently at 22.9% the size of Bitcoin’s, captured 34.6% of the inflows seen by Bitcoin futures ETFs between September 29 and December 26. This historical data provides further support for K33's optimistic outlook.
Bloomberg Analyst Eric Balchunas’ Perspective
Bloomberg ETF analyst Eric Balchunas has also shared his insights on the Ethereum ETFs. While K33 Research projects inflows of up to $4 billion, Balchunas is more conservative. In a recent tweet, he suggested that Ethereum ETFs might capture about 10% to 20% of the inflows seen by spot Bitcoin ETFs. This would still be significant, translating to around $1.4 billion to $2.8 billion in inflows.
Overall, regardless of differing estimates, analysts agree that the launch of Ethereum ETFs is a bullish event. The influx of capital into Ethereum could potentially drive its price higher, possibly even towards the $5,000 mark in the near future.
Disclaimer: Voice of Crypto aims to provide accurate and up-to-date information, but it is not responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, so please conduct your own research and make informed financial decisions.

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- Significant Ethereum withdrawals from exchanges suggest anticipation of price appreciation.
- The surge in Ethereum's value, possibly influenced by anticipation of ETF approvals, indicates investor optimism.
- Historical patterns suggest that withdrawals from exchanges signify positive sentiment and could drive a market upswing.
- Despite temporary price stability, bullish investors are actively supporting Ethereum at the $3,700 mark, hinting at potential price resilience.
The recent approval of eight spot Ethereum ETFs by the U.S. Securities and Exchange Commission has caused a stir in the crypto market, with significant shifts in Ethereum's price and investor behavior.
Just before the ETF approval on May 23, Ethereum experienced a remarkable surge of 30%, breaking through key resistance levels and reaching highs near $3,970.
Following this, Ethereum saw a slight decline, prompting a retest of the $3,700 zone. Surprisingly, instead of a bearish trend, investors responded by withdrawing billions of dollars worth of ETH from exchanges, signaling optimism for future price gains.
Analyst Ali Martinez highlighted this trend, noting that since the ETF approval, approximately 777,000 ETH (equivalent to $3 billion) has been removed from exchanges.
Typically, depositing crypto into exchanges suggests a bearish sentiment, while withdrawals signal bullish expectations. The significant decrease in exchange balances, as illustrated by Glassnode charts, aligns closely with Ethereum's recent price rallies.
Experts speculate that the approval of Ethereum ETFs will have a substantial impact on its price. This theory gains traction as Ethereum began its rally even before the ETF approval, coinciding with increased odds of approval by Bloomberg analysts.
During this period, Ethereum whales were observed purchasing large amounts of ETH, reinforcing the positive correlation between whale activity and Ethereum's price movements.
As of the latest data, Ethereum is trading around $3,754.12, with signs of bullish activity around the $3,700 support level. The substantial outflows from exchanges further bolster this bullish outlook, suggesting that Ethereum is unlikely to dip below this critical support.
Despite short-term fluctuations, Ethereum's Relative Strength Index (RSI) indicates a bullish momentum, potentially paving the way for another attempt at the $4,000 mark, provided the $3,700 support holds firm.
It's important to note the volatile nature of cryptocurrencies. While this information aims to provide insights, it's essential to conduct thorough research and exercise caution when making financial decisions.

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