Sat, May 25, 2024 at 14:35

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    Kang-hoon

    • Hello, Annie.

    • Today, I have some exciting news about Ethereum.

    • The chief investment officer of Bitwise, a crypto fund manager, is predicting new all-time highs for Ethereum if spot ETH exchange-traded funds (ETFs) are approved.

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  • Annie

    • Oh, that sounds interesting!😊 So, what exactly happened this week?

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    Kang-hoon

    • Earlier this week, the U.S. Securities and Exchange Commission (SEC) approved a rule change that sets the stage for the potential approval of spot market Ethereum ETFs.

    • This could lead to significant investor inflows into ETH ETFs.

  • Annie

    • Wow, that's a big step!

    • How much investment are we talking about here?

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    Kang-hoon

    • Matt Hougan, the CIO of Bitwise, predicts that the inflows could total billions of dollars.

    • He believes this could drive Ethereum beyond its all-time high of about $4,900, which it reached back in November 2021.

  • Annie

    • Billions of dollars?

    • That's massive!😲 Do you think Ethereum ETFs will perform as well as Bitcoin ETFs?

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    Kang-hoon

    • Hougan doesn't think Ethereum ETFs will match Bitcoin ETFs in terms of volume.

    • However, he estimates that Ethereum ETFs could do less than half but more than a quarter of what Bitcoin ETFs did, which was $12 billion in their first four months.

  • Annie

    • That's still quite significant.

    • What about the future of ETFs with multiple digital assets?

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    Kang-hoon

    • Hougan believes that ETFs with exposure to multiple digital assets will also launch in the future.

    • He predicts that there will be investor demand for different types of ETFs, including those that mix various cryptocurrencies.

  • Annie

    • Interesting!

    • How does he see the market distribution for these ETFs?

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    Kang-hoon

    • He estimates that a year from now, 30% of the market will be Bitcoin-only ETFs, 50% will be a mix of different cryptocurrencies, and 20% will be ETH-only ETFs.

    • This diversification could make the market feel more robust and real.

  • Annie

    • That makes sense.

    • So, overall, does he see this as a positive development for the market?

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    Kang-hoon

    • Yes, he believes that the introduction of multiple crypto asset ETFs will be a net positive for the market.

    • It will provide more options for investors and make the market more dynamic.

  • Annie

    • Ethereum is currently trading at $3,736.

    • Do you think this news will help it reach new highs soon?

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    Kang-hoon

    • Absolutely.

    • If the spot Ethereum ETFs are approved, the influx of investment could drive Ethereum to new all-time highs.

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    • Given the current trading price, there's significant potential for growth.

  • Annie

    • That's great to hear!🌟 So, in your opinion, is this news a positive indicator for the market?

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    Kang-hoon

    • Yes, I believe this is a very positive development.

    • The approval of spot Ethereum ETFs could attract substantial investment, boost market confidence, and drive Ethereum to new heights.

    • It's definitely a bullish signal for the market.

  • Annie

    • Thank you for the detailed explanation, Kang-hoon.

    • This really helps with my investment decisions.😊

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    Kang-hoon

    • You're welcome, Annie.

    • Always happy to help.

    • Just remember to do your own research and consider all factors before making any investment decisions.

    • Upon comprehensive consideration, this news is perceived as a 😍Bullish.