Renowned Crypto YouTuber Lark Davis has shared insights in a recent video, outlining his expectations for Ethereum’s price trajectory and the possible emergence of altcoin-based ETFs, including those for Solana and Dogecoin.
Davis’s primary forecast revolves around Ethereum’s potential to hit $4,000, with the first milestone expected by the end of May this year. The specific date, May 23, aligns with the anticipated approval of a spot Ethereum ETF by regulators. Davis cited Standard Chartered bank’s prediction, which set the target at $4,000, attributing the projection to the expected green light for a spot Ethereum ETF by the Securities and Exchange Commission (SEC). Similar to Bitcoin‘s experience with spot-based ETFs from entities like BlackRock, Davis anticipates a surge in Ethereum demand driven by institutional investments once the ETF is approved.
While the SEC has been postponing its decision on the Ethereum ETF, Davis aligns with Standard Chartered’s projection that approval might be granted on May 23.
Additionally, Davis speculates on the likelihood of altcoin-based ETFs entering the market, particularly for cryptocurrencies like Dogecoin, Solana, Chainlink, and Avalanche. He suggests that once the SEC allows spot Ethereum ETFs to trade, hedge funds may be prompted to introduce ETFs based on other prominent altcoins. Drawing inspiration from recent comments by a representative from Franklin Templeton fund in an interview with Bloomberg, Davis envisions the possibility of additional ETF filings, with Ethereum as a potential starting point. The representative hinted at Ethereum being a favorable candidate for their future ETF endeavors.
As the crypto market continues to evolve, Davis anticipates an increased institutional interest in altcoins, driven by the success of Ethereum ETFs and the potential for a broader range of cryptocurrency-based exchange-traded funds in the near future.
