Mechanism Capital’s Andrew Kang believes an Ether ETF would provide limited upside for the asset unless Ethereum “develops a compelling pathway to improve its economics.”
Ether (ETH) could tumble to as low as $2,400 after the launch of spot Ether exchange-traded funds, says Andrew Kang, a founder and partner at crypto-focused venture capital firm Mechanism Capital.
Ether is currently trading for $3,410, according to CoinGecko. A tumble to $2,400 would be a nearly 30% fall from its current price.
In a June 23 X post, Kang said, unlike Bitcoin, Ether attracts less institutional interest, there are few incentives to convert spot Ether into ETF form, and the network cash flows haven’t been very impressive.
