Economist Alex Krüger, who is closely followed by the market, has expressed his belief that the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) could have a significant impact on the price of the top altcoin, pushing it to new all-time highs (ATHs).

During a recent episode of the Unchained “Bits + Bips” podcast, Krüger explained that the market has yet to fully factor in the potential approval of a spot ETH ETF. He predicts that if such an approval is granted, Ethereum will experience a substantial surge against Bitcoin (ETH/BTC), reaching a level of at least 0.070 BTC ($4,865) within a few months.

Krüger stated, “If the ETF gets approved, which seems likely now, it’s clear that we will see all-time highs very soon. This is because the market is not prepared for it. It seems that the market has priced in almost a 0% probability or as close as it gets to no chance at all. ETH has been one of the most disliked coins, if not the most disliked coin of this cycle, and its price reflects that. Currently, ETH/BTC is at around 0.052 BTC. Therefore, it makes sense for it to rise to at least 0.070 BTC ($4,865) in the next couple of months. These things usually happen quite quickly.”

Krüger also believes that there is significant demand from institutions to invest in an ETH ETF product, further supporting the potential for a price surge.

At the time of writing, ETH/BTC is trading at 0.05362 BTC ($3,731). Ethereum reached its all-time high of approximately $4,900 in November 2021.

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