Andrew Kang, founder of Mechanism Capital a crypto-focused VC firm, predicts ETH could hit $2,400 after the launch of spot Ethereum ETFs, a nearly 30% decline from its current price. Kang argues that ETH attracts less institutional interest than BTC, and there are few incentives to convert spot Ethereum into ETFs. He also notes that the network's cash flows have been unimpressive.

Kang estimates that spot Ethereum ETFs will attract only 15% of the flows that Bitcoin ETFs have seen, leading to about $840 million in new inflows over six months. He believes that crypto natives' expectations are overinflated and that the ETF is already priced in.

While some, like analyst Patrick Scott, expect ETH to follow Bitcoin ETFs' performance directionally, others, like VanEck, predict much higher future prices for ETH. Kang sees Ethereum as a tough sell to investors, comparing it to an overpriced tech stock.

Kang also suggests the ETH/BTC ratio could decline over the next year but acknowledges a potential BTC rally to $100,000 could still lift ETH to new highs.

Source: Cointelegraph