Ethereum ETF expected to be approved within the next week, some analysts believe it will be more impactful than BTC ETF

"Six weeks ago, an ETH spot ETF was a false hope, but there's a good chance it will be approved in the next week or so," Nate Geraci, CEO of US ETF specialist ETF Store, told X.

Meanwhile, Andrew Kang, co-founder of crypto investment firm Mechanism Capital, told X that "the ETH spot ETF approval will likely result in less of an ETH price increase than a BTC spot ETF." "Fund inflows into ETH spot ETFs are likely to be lower than market expectations. The suddenness of the approval meant that issuers didn't have time to convince existing ETH holders to switch to the ETF, and the ETF itself was less attractive to ETH spot holders, who would have to give up staking and DeFi yields. ETH is expected to trade between $3,000 and $3,800 before the ETF launch and between $2,400 and $3,000 after the ETF is approved. If BTC reaches $100,000 by the end of this year/early next year, ETH will also hit a new all-time high, but the price of the ETH/BTC pair will decline further."