The chief investment officer of Bitwise, a crypto fund manager, has made a bold prediction about Ethereum’s future. According to Matt Hougan, if spot ETH exchange-traded funds (ETFs) are approved, Ethereum will reach new all-time highs. The recent approval of a rule change by the U.S. Securities and Exchange Commission (SEC) has paved the way for the potential approval of spot market Ethereum ETFs.

Hougan believes that the approval of ETH ETFs will lead to a significant influx of investor funds, totaling billions of dollars. This surge in investment is expected to push Ethereum’s price beyond its previous all-time high of $4,900, which was reached in November 2021.

While Hougan does not expect Ethereum ETFs to match the popularity of Bitcoin ETFs, he still anticipates substantial investment. He estimates that Ethereum ETFs will attract less than half the amount of investment as Bitcoin ETFs in their first four months, but more than a quarter of that amount. This level of investment is significant, especially considering that the market has no new supply. Hougan believes that the demand for Ethereum ETFs is genuine and will drive the price of Ethereum to new heights.

Hougan also predicts that ETFs with exposure to multiple digital assets will be launched in the future, and there will be investor demand for different types of ETFs. He envisions a market where 30% of investors prefer Bitcoin-only ETFs, 50% opt for a mix of digital assets, and 20% choose Ethereum-only ETFs. According to Hougan, professional investors in the crypto market are seeking high-returning assets, and Ethereum fits perfectly into that category.

Overall, Hougan believes that the existence of multiple crypto asset ETFs will benefit the market as a whole. It will make the market feel more robust and real, giving investors more to talk about. He sees this development as a net positive for the crypto industry.

As of now, Ethereum is trading at $3,736, experiencing a slight decrease of over 1% in the last 24 hours.

Disclaimer: The opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at the investor’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is it an investment advisor.