Significant Potential Rise in Price
Recent analysis from Singapore-based QCP Capital suggests that the approval of spot Ethereum exchange-traded funds (ETFs) in the United States could lead to a substantial rally in the price of ETH. QCP Capital predicts a potential surge of up to 60% in the price of Ethereum, drawing comparisons to the market response following the approval of spot Bitcoin ETFs earlier this year.
QCP Capital stated, “With Friday implied volatility above 100%, the market is expecting fireworks.”
Market Reaction and Analyst Warnings
QCP Capital pointed out that the approval of spot Bitcoin ETFs in January triggered a surge in Bitcoin’s price from $42,000 to over $73,000 within two weeks of trading commencement. The firm suggests that the listing of VanEck’s ETF by the Depository Trust & Clearing Corporation (DTCC) signals a high probability of spot ether ETF approval, with trading possibly starting soon.
Despite the optimistic forecasts, QCP Capital analysts have also warned of a possible “significant price correction” if the ETF application faces rejection. This caution underscores the market’s volatility and uncertainty surrounding the approval decision.
QCP Capital cautioned, “A significant price correction could occur if the ETF application were to be dismissed.”
