The price forecast represents an exponential increase from Ethereum’s current level of $3,850 U.S. per digital token.
VanEck, which has applied to launch a spot Ethereum exchange-traded fund (ETF) in America, has also forecast that Ether funds could be bigger than Bitcoin ETFs in coming years.
“Ethereum is disrupting the finance, banking, payments, marketing, advertising, social, gaming, infrastructure and artificial intelligence sectors,” wrote VanEck in a note to clients.
VanEck stresses that its price prediction for Ethereum is based on institutional investors allocating significant amounts of capital to spot Ether ETFs.
However, VanEck also notes that Ethereum has an advantage over Bitcoin (CRYPTO: BTC) because it offers lower costs, increased efficiency, and greater transparency.
The analysts at VanEck said that free cash flows from revenue derived by holding Ethereum are set to reach $66 billion U.S. by 2030, potentially driving Ethereum’s valuation higher.
The price of Ethereum is up 63% year-to-date and has doubled over the past 12 months.
This content was originally published by Yolowire.com
Source: Cryptocurrency - investing.com
