Bernstein Analyst: Approval of Ethereum Spot ETF Will Drive ETH Up 75% to $6,600

ChainCatcher news, according to DL News, estimates from research firm Bernstein analysts Gautam Chhugani and Mahika Sapra suggest that the approval of a spot Ethereum ETF will drive Ethereum to soar 75% to $6,600.

They noted that the SEC approved a similar Bitcoin product in January, which stimulated a 75% increase in Bitcoin's price in the following weeks.

Chhugani and Sapra stated in a report this week: "We expect ETH's price movement to be similar."