Institutional market data provider Kaiko has released a report, projecting that Ethereum will outpace Bitcoin following the launch of spot Ether ETFs. The current conversation centers on whether Ethereum can reach $5,000 by the end of 2024.This year, spot crypto ETFs have dominated market spaces, attracting billions from investors. The approval of spot Bitcoin ETFs on January 11 sparked renewed market optimism, paving the way for Ethereum. This milestone underscores the growing importance of Layer 2 solutions within the Ethereum ecosystem. This influx is expected to significantly accelerate the growth of the asset class.The Bitcoin ETFs have already set a positive narrative in the market, with over $50 billion invested in 10 newly launched Bitcoin ETFs within five months of their introduction.Institutions already invested in Bitcoin ETFs are likely to diversify into these newly approved Ethereum ETFs.

Source: Economic Times July 20, 2024 14:42 UTC