As the U.S. Securities and Exchange Commission (SEC) inches closer to approving spot Ethereum exchange-traded funds (ETFs), the crypto community is abuzz with speculation about the potential impact on Ethereum's price. While some analysts predict a meteoric rise, others foresee a significant price crash in the aftermath of the ETF launch.

Andrew Kang, a prominent crypto investor and entrepreneur, has sounded the alarm, warning that Ethereum's price could plummet by as much as 30%, potentially falling from its current level of around $3,400 to as low as $2,400. Kang cites several reasons for his bearish outlook, including lower institutional interest in Ethereum compared to Bitcoin, and the asset's current valuation metrics, which may be difficult to justify to traditional finance allocators.

However, not everyone shares Kang's pessimistic view. Andrey Stoychev, Head of Prime Brokerage at Nexo, believes that the approval of a spot Ethereum ETF could be the catalyst needed to drive the price of the second-largest cryptocurrency to $10,000 by the end of 2024. Stoychev argues that the approval of Ethereum ETFs in the U.S. and similar products in Asia could help the asset catch up with Bitcoin's performance post-ETF.

Despite the differing opinions, one thing is clear: the launch of Ethereum ETFs will have a significant impact on the market. While some investors may be eager to allocate capital to Ethereum through these new investment vehicles, others may be hesitant to convert their spot holdings into ETF form, particularly if staking rewards are not included.

As the crypto community eagerly awaits the SEC's final decision on Ethereum ETFs, it's crucial for investors to carefully consider the potential risks and rewards before making any investment decisions. The future of Ethereum's price remains uncertain, but one thing is clear: the launch of ETFs will undoubtedly shape the asset's trajectory in the months and years to come.