Daily digest market movers: Ethereum ETFs deciding factor for new all-time high
Bitwise CIO Matt Hougan predicted that inflows across Ethereum ETFs will boost ETH's price to a new all-time high above $5,000.
"By year-end, I'm confident the new highs will be in. And if flows are stronger than many market commentators expect, the price could be much higher still," said Hougan in a recent memo to investors.
Hougan believes ETH ETFs will have a bigger impact on ETH's price than Bitcoin ETFs had on BTC due to the new demand that ETFs bring to commodities without altering their fundamentals. BTC has seen a 110% rise since October, when Bloomberg announced the SEC would likely approve Bitcoin ETFs
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