Anticipation and excitement are high in the cryptocurrency world regarding the potential approval of a spot Ethereum ETF. As the decision on these ETFs looms, notable figures in the crypto community are making waves with their predictions. Economist Alex Krüger's recent remarks have particularly captured market interest.

Will Ethereum Hit Its All-Time High?

Alex Krüger, a well-respected economist in the cryptocurrency sphere, suggested that the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) could rapidly propel the top altcoin to new all-time highs (ATHs). Speaking on a podcast, Krüger observed that the market has yet to price in the likelihood of an ETH ETF approval. He believes such an approval could drive Ethereum to 0.070 BTC (around $4,865) in the ETH/BTC trading pair within a few months.

"If the ETF gets the green light, it's almost certain we’ll see ATHs shortly after," Krüger stated. "The market seems unprepared for this event. While some estimate a 25 percent chance, I think the market has priced in almost zero probability."

Krüger highlighted that Ethereum has been among the most undervalued coins recently, reflected in its current price. Trading at approximately 0.052 BTC, he sees potential for this to increase to at least 0.070 BTC ($4,865) soon. "Such developments often happen quickly," he noted.

Moreover, Krüger mentioned that there are institutional investors ready to pour money into ETH ETF products once they gain approval, indicating strong demand.

Current Ethereum Price

As of now, Ethereum has climbed 1.83%, surpassing $3,800 to trade at $3,806. Its market capitalization has exceeded $450 billion, reaching $456 billion. Additionally, the 24-hour trading volume has surged by 23.81% to $32 billion in anticipation of the possible ETF approval.

The ETH/BTC pair is currently trading at 0.056 BTC. Ethereum previously reached an all-time high of $4,900 in November 2021.

In conclusion, experts are optimistic about the imminent approval of the Ethereum ETF. Krüger's insights suggest that such an event could swiftly elevate Ethereum to new heights. As Ethereum trades at $3,806 with a market cap of $456 billion, the cryptocurrency community remains on edge, awaiting the ETF decision.