VanEck predicts Ethereum to reach 22K by 2030 with expected ETF approval
VanEck has established a bold new target price for Ether (ETH), the native cryptocurrency of the Ethereum protocol, projecting that it will hit $22,000 by 2030. This prediction marks a significant increase from its current value of approximately $3,850. The global investment firm had previously suggested that Ether ETFs could outpace their Bitcoin counterparts in terms of market size.
In their latest report on June 5, VanEck attributed this optimistic forecast to Ethereum’s disruptive capabilities and the revenue it generates for token holders. The firm’s thorough analysis showcases Ethereum’s influence across various industries, including finance, banking, payments, marketing, advertising, social media, gaming, infrastructure, and artificial intelligence.
VanEck believes that the expected approval of Ether ETFs, along with on-chain data analysis, bolsters their prediction. “We anticipate that spot Ether ETFs are close to receiving approval for trading on U.S. stock exchanges,” the report mentioned. “This development would allow financial advisors and institutional investors to securely hold this unique asset with qualified custodians, while benefiting from the pricing and liquidity advantages typically associated with ETFs.”
VanEck highlights the disruptive potential of Ethereum-based technology in driving Ether to $22,000, emphasizing its ability to deliver cost savings, increased efficiency, and enhanced transparency. The firm suggests that this shift could potentially redirect a significant portion of the market share from traditional financial and tech institutions, with a combined total available market of $15 trillion, to blockchain-based solutions.
The report also projects that the free cash flows generated from revenue earned by holding Ether will reach $66 billion by 2030, further supporting their valuation estimate. Year-to-date, Ether has experienced a more than 63% increase in value according to data from CoinMarketCap.
In related news, Ryan Sean Adams, co-founder of Bankless, highlighted the Ethereum blockchain’s remarkable ability to generate three times more in fees than the top Layer 2 networks and Solana combined, despite having fewer users. VanEck’s proposed spot Ether ETF, currently listed as “ETHV” on the Depository Trust and Clearing Corporation (DTCC), is awaiting regulatory approval before becoming active.
Crypto asset trading firm QCP Capital recently forecasted a potential 60% surge in Ethereum’s price, pushing it towards $6,000 if a spot ETF is approved. This optimistic outlook aligns with research firm Bernstein’s observations, suggesting that the sustained demand influx following Bitcoin ETF approvals could lead to similar price movements for Ethereum.
Historical data from crypto.news’s price page indicates that Bitcoin (BTC) experienced a 66% surge from around $44,300 to a peak of $73,700 within two months following ETF approval. As Ether eyes the $4,100 mark ahead of the commencement of Spot Ethereum ETFs trading, the cryptocurrency industry eagerly anticipates the potential growth and developments in the market.
