Ether ETFs Will Trigger Sell The News Scenario: Mechanism Capital
Andrew Kang, a founder, and partner at the crypto-focused venture capital firm Mechanism Capital, predicts that Ether could drop to as low as $2,400 following the launch of spot Ether ETFs.
A decline to $2,400 would represent nearly a 30% drop from its current price.
In a June 23 post on X, Kang explained that, unlike Bitcoin, Ether attracts less institutional interest. Additionally, there are few incentives to convert spot Ether into ETF form, and the network’s cash flows have not been very impressive.
“How much upside would an ETH ETF provide? I would argue not much,” said Kang. He added, “After the ETF launch, my expectation is a price range of $2,400 to $3,000.”