Bitwise CIO Matt Hougan: Ethereum To $5,000 In 2024 And $15B In ETF Inflows
Portfolio Pulse from Murtuza Merchant
Bitwise CIO Matt Hougan predicts Ethereum (ETH) will reach $5,000 by the end of 2024, driven by ETP inflows. Key factors include Ethereum's 0% inflation rate, reduced selling pressure from validators, and a significant portion of ETH supply being locked. Hougan anticipates $15 billion in ETP inflows over 18 months, despite potential initial market choppiness from Grayscale Ethereum Trust (ETHE) outflows.
July 17, 2024 | 6:41 pm
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Grayscale Ethereum Trust (ETHE) may experience initial outflows as it converts to an ETP, but long-term prospects are bullish due to anticipated $15 billion in ETP inflows.
The conversion of ETHE to an ETP may cause short-term outflows, but the overall bullish outlook for Ethereum and expected $15 billion in ETP inflows should positively impact ETHE in the long term.
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