Crypto Daily – Billionaire crypto entrepreneur Andrew Kang has posted on X that in his view, the impact of the launch of a Spot ETF would provide “not much” upside, and that it is already “more than priced in”.
Crypto market excitement at imminent ETF launch
With VanEck having just made their 8-A filing for their Spot Ethereum ETF, its launch may be imminent. When VanEck last did this filing for their Spot ETF, the launch happened a week afterwards.
The crypto market is extremely excited about this launch and many investors may have already bought $ETH in anticipation. The general thinking will be that if the Ethereum ETF is anything like as successful as that of Bitcoin, the price is bound to go up.
A bucket of cold water
That said, Andrew Kang, Managing Partner at Mechanism Capital, has thrown a bucket of cold water onto the situation. In an article posted on X, Kang posits that the $ETH price will not see much upside unless it “develops…
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