DOGE ETF and SOL ETF May Potentially Emerge in 2025, Lark Davis Explains How
U.Today – Crypto YouTuber Lark Davis has shared a video explaining why he expects the second-largest cryptocurrency, , to see $4,000 as the first stop on its path to $10,000.
He also said that altcoin-based ETFs could flood the market very soon, and these would include ETFs in particular.
Ethereum Heads To $4,000
The main message that Lark Davis wanted to convey to The regulator gives the green light to an Ethereum spot ETF.
Davis provided a reminder that Chartered Standard The bank (LON:) made this prediction and set the deadline at $4,000. The main reason why the banking giant made such a prediction is because it expects the Securities and Exchange Commission to approve an Ethereum spot ETF this year, therefore, the bank's thesis says, the ETF will drive massive demand for Ethereum , just like he did for .
BlackRock (NYSE 🙂 and other spot Bitcoin ETFs began accumulating staggering amounts of BTC before the SEC regulator approved their filings, and continue to purchase 5 times more BTC than the daily amount of Bitcoin produced by miners.
The regulator has so far been delaying its decision on the Ethereum ETF, however, Davis agrees with Standard Chartered's (OTC:) forecast that it is likely to be approved on May 23.
DOGE, SOL, LINK and AVAX ETFs Likely: Davis
Davis expressed the opinion that once the SEC allows Ethereum ETFs to begin trading, this would give a start to hedge funds that will decide to launch exchange-traded funds based on other altcoins.
The YouTuber surmised that the cryptocurrency market could see the launch of ETFs based on altcoins like Dogecoin, Solana, Chainlink, perhaps even by the end of 2024. What led him to this idea was the Franklin Templeton fund.
In a recent interview with Bloomberg, a representative for this fund hinted that the market could see more ETF filings coming from them, and the representative stated that Ethereum seems like a good candidate for that to begin with.
This article was originally published on U.Today.
