Investment management company VanEck is raising its 2030 Ethereum Ethe (ETH) price target to $22,000, following recent developments around the asset. “We’ve raised our 2030 ETH price target to $22K, influenced by ether ETF news, scaling progress, and our read of on-chain data,” the company wrote in a post to X. “Additionally, we’ve analyzed how ETH and BTC perform in both traditional and crypto-only portfolios for optimal returns.”
VanEck is one of multiple asset management firms with a Spot Bitcoin ETF and a pending Ethereum ETF application. With the recent approval of Spot ETH ETFs by the SEC, full approval by the regulator is due soon, and thus, the hype around the asset is rising. Due to these updates, many price predictions are now bullish around Ethereum, and VanEck is updating there’s as well, setting a new target for the asset by 2030.
“Driven by a strong value proposition to entrepreneurs, the Ethereum network is likely to continue its rapid market share growth from traditional financial market participants and, increasingly, Big Tech,” VanEck says. “Should it do so while maintaining its dominant position among smart contract platforms, we see a credible path to $66B in free cash flow to token holders supporting a $2.2 trillion asset, or $22k per coin, by 2030.”
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How High Can Ethereum Go Following ETF Approval?
Experts are predicting the Spot Ethereum ETFs to go live this month, a much faster timetable than that of the Bitcoin ETFs previously approved in January. At press time, ETH is trading at $3,867.65, up 3% in the past week and 23% in the past 30 days. Ethereum’s all-time high is $4,891.70, which it reached on Nov. 16, 2021. Many experts predict that following the approval of the ETFs, Ether will follow Bitcoin’s path and surge to new all-time highs upon the debut of its ETFs.
ETH reaching $5,000 will be the first step to $22,000 by 2030 if VanEck’s prediction rings true. However, with the growing popularity of Ethereum and other cryptocurrency assets, a six-year timetable to 6x in price is not too far out in left field.