In a recent report, leading global asset manager, VanEck, has offered an optimistic forecast for Ethereum’s future. The firm predicts that Ethereum’s price will soar to $22,000 by 2030, offering a whopping 468% increase from its present value. It also projects Ethereum’s revenue to spike from the existing $3.4 billion to a staggering $51 billion within the same period.

VanEck lauds Ethereum as a game-changing asset having limited equivalence in the conventional non-crypto financial world. It predicts that the Ethereum network will continue to grow rapidly, gaining recognition from traditional financial market participants, and increasingly, major tech firms as well. The asset manager believes that Ethereum’s network, which already safeguards more than $90 billion in stablecoins, $7 billion in tokenized assets, and $308 billion in digital assets, will become the linchpin of its own financial ecosystem.

Additionally, VanEck also indicates Ethereum’s likely growth outside the crypto universe. The firm cites sectors including banking, finance, and payments where Ethereum-built applications could bring disruption, valuing these potential opportunities at $15 trillion. It also notes the possibilities of Ethereum finding significant roles within infrastructure, artificial intelligence, advertising, marketing, gaming, and social sectors.

VanEck’s report emerges soon after the U.S. Securities and Exchange Commission’s approval of spot Ethereum ETFs, allowing mainstream investors to obtain exposure to the cryptocurrency via a traditional brokerage account. It also underscores the importance of Ethereum’s unique features as both a network and an asset, labeling it as “internet reserve currency”. The firm further emphasizes that to send or engage with Ethereum smart contracts, users need to spend Ethereum, incurring gas fees, which reduces the currency’s circulation while simultaneously driving demand.

Lastly, VanEck signals that Ethereum could potentially challenge established tech giants, such as Google and Apple, as a platform for developers to create consumer-facing applications. Currently taking around 24% of revenue through gas fees, Ethereum offers a competitive alternative to the approximated 30% revenue cut imposed by these tech firms on apps hosted within their digital stores.