Crypto VC founder Andrew Kang has warned that the launch of spot Ether exchange-traded funds (ETFs) could cause the price of Ether to plummet to as low as $2,400, representing a nearly 30% fall from its current price. Kang argues that Ether attracts less institutional interest compared to Bitcoin, and there are limited incentives for converting spot Ether into ETF form. He also suggests that Ethereum’s future as a cash flow “machine” looked promising during the previous cycle’s decentralized finance and non-fungible token surges, but that momentum has not continued. Several prominent asset managers have submitted revised proposals for Ethereum ETFs to the SEC, with VanEck disclosing a management fee of 0.20% for its Ethereum fund.
