Crypto traders believe that in 2022, Ethereum is set to witness a surge in prices. The belief comes from the expectation that the top securities regulator is going to approve a move that will see a US exchange traded fund (ETF) tracking Ethereum, which is the second-biggest cryptocurrency in the world. The word that’s spreading says that Ethereum’s value will rise to $15,000 within March 2022. This would mean that the crypto will rise beyond 3 times its current valuation.
Last week, the Securities and Exchange Commission (SEC) provided clearance for the first ETF to be linked with Bitcoin to launch. The fund, known as ProShares Bitcoin Strategy, has seen investments of more than $1 billion. As a result, it has bought futures contracts, which track Bitcoin prices. Ultimately, the combination of these moves resulting in the Bitcoin price soaring to its highest ever value.
Traders believe that the scenario is likely to repeat for Ethereum EFTs. The chief commercial officer of Deribit, Luuk Strijers, said that the market is bullish in terms of Ethereum’s potential by the end of 2021 or 2022’s first quarter.
Derivatives contracts trading is seeing an explosion as far as buying interest goes. These contracts provide the right to investors to buy Ethereum in March 2022 for $15,000. Adam Farthing, chief risk officer of B2C2, a crypto specialist trading firm, said the mood of crypto traders suggests that something big is coming up for Ethereum.
On Wednesday, October 27th, Ethereum was being traded at record high values around $4,000. According to Farthing, the whales are positioning themselves for an announcement involving Ethereum futures ETF