TechFlow reported on July 17 that, according to CoinDesk, Bitwise stated the upcoming spot Ethereum (ETH) ETFs are expected to drive ETH prices beyond $5,000, reaching an all-time high. This surge may not occur immediately, and prices could initially become volatile due to outflows from the Grayscale Ethereum Trust, which holds $11 billion in value, following its conversion into an ETF. However, net inflows of $15 billion into these ETFs are projected within the next 18 months.
Matt Hougan, Chief Investment Officer at Bitwise, said Ethereum is likely to hit new highs by year-end, and prices could climb even higher if fund inflows exceed expectations. Compared to Bitcoin, ETH has a short-term inflation rate of 0%, and 28% of ETH has already been staked, reducing available supply in the market.
