The upcoming launch of Ethereum exchange-traded funds (ETFs) may lead to a significant decline in the price of Ethereum, according to industry analyst Andrew Kang. Unlike Bitcoin ETFs, which attracted significant institutional investment, Ethereum ETFs are expected to have a more muted impact. Kang estimates that Ethereum ETF flows will be around 10-15% of Bitcoin ETF flows, resulting in a relatively small amount of true net buying.

Kang attributes the expected decline in Ethereum price to several factors, including its perceived value as a tech asset rather than a macro asset like Bitcoin. Additionally, Ethereum's current valuation metrics make it harder for institutional investors to justify allocation. Despite being up 4x from its lows, Ethereum's positioning before the ETF launch is different from Bitcoin's, which was up 2.75x before its ETF launch.

The analyst predicts that Ethereum will trade between $3,000 and $3,800 before the ETF launch but potentially fall to between $2,400 and $3,000 after the launch. This could result in a 30% drop in value. However, if Bitcoin increases to $100,000 by the end of the year, it could drag Ethereum and altcoins up with it. Kang also expects a continued downtrend for the ETH/BTC ratio over the next year.

The Ethereum price has already begun to dip, trading below $3,400, down 3.4% on the day and 5.3% on the week. The broader cryptocurrency market is also declining, with Bitcoin dropping below $63K and other altcoins experiencing significant losses.

In conclusion, the launch of Ethereum ETFs may lead to a significant decline in Ethereum price, unlike the impact of Bitcoin ETFs. While some predict a bullish future for Ethereum, the analyst's predictions suggest a bearish trend in the short term. As the market continues to evolve, it is essential for investors to stay informed and adapt their strategies accordingly.