Arthur Cheong, an experienced investor in the cryptocurrency market, is anticipating a surge in the value of Ethereum (ETH) as the launch of exchange-traded funds (ETFs) for the popular altcoin approaches. Cheong, who is the founder of DeFiance Capital, shared his prediction with his 167,400 followers on the social media platform X. He believes that Ethereum could experience a significant increase of nearly 14% from its current value before spot ETH ETFs become available for investors.

The approval of spot market Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC) has paved the way for these products to be traded on stock exchanges in the United States. Cheong confidently states, “I believe Ethereum will reach $4,500 before spot ETFs are available for trading.”

Cheong also foresees that the demand from retail investors for spot ETH ETFs will be comparable to the demand for spot Bitcoin (BTC) ETFs, which were launched earlier this year. He notes that a significant portion, more than 70%, of spot BTC ETFs are held by retail investors. Additionally, he shares his own experience as a retail investor, stating that Ethereum was the first cryptocurrency he purchased. He also mentions the popularity of XRP among retail investors due to its fintech narrative. Furthermore, he highlights that many individuals who entered the crypto market in 2017 were attracted to Ethereum. Based on these observations, Cheong believes that retail investors will be enthusiastic about Ethereum, considering its role as the decentralized technology layer powering the web 3.0 economy.

Matt Hougan, the chief investment officer of Bitwise, a crypto fund manager, recently predicted that the introduction of ETH ETFs would result in billions of dollars flowing into the market and propel Ethereum beyond its previous all-time high of approximately $4,900, which was reached in November 2021.

As of the time of writing, Ethereum is being traded at $3,957, showing a growth of over 3% in the last 24 hours.

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