DOGE ETF, SOL ETF could emerge by 2025, Lark Davis explains how
U.Today – Cryptocurrency YouTuber Lark Davis shared a video detailing why he expects the second-largest cryptocurrency to reach $4,000 as the first stop to $10,000.
He also said that altcoin-based ETFs could soon enter the market, which would include ETFs among others.
Ethereum heads towards $4,000
The main message that Lark Davis wanted to convey regarding is the day regulators give the green light to the Spot Ethereum ETF, which is expected to reach $4,000.
Davis reminded that standard chartered The bank (LON:) made this prediction and set the deadline at $4,000. The main reason why the banking giant made such a prediction is that it expects the Spot Ethereum ETF to be approved by the Securities and Exchange Commission this year, and therefore, according to the bank’s paper, the ETF will have a strong interest in Ethereum. It will drive huge demand, as well. It was done for.
BlackRock (NYSE:) and other spot-based Bitcoin ETFs began scooping up staggering amounts of BTC before SEC regulators approved their applications, more than five times the amount of Bitcoin produced by miners each day continues to purchase BTC.
So far, regulators have delayed decisions on the Ethereum ETF, but Davis agreed with Standard Chartered’s (OTC:) prediction that approval is likely on May 23.
Likely DOGE, SOL, LINK, AVAX ETFs: Davis
Davis expressed the opinion that if the SEC allows the Spot Ethereum ETF to begin trading, it will prompt hedge funds to decide to launch exchange-traded funds based on other altcoins.
The YouTuber predicted that ETFs based on altcoins such as Dogecoin, Solana, and Chainlink could be launched in the cryptocurrency market, perhaps by the end of 2024. It was the Franklin Templeton Fund that led him to this idea.
In a recent interview with Bloomberg, a representative for the fund hinted that the market could see more ETF applications from the fund, and the representative said he didn’t think Ethereum was a good candidate in the first place. He said that it seems that
This article was originally published on U.Today