Investment management firm VanEck has made a bold prediction about Ethereum's future price, raising its target to $22,000 by 2030. This new estimate is based on the expected launch of spot Ethereum ETF products, which were approved by the US Securities and Exchange Commission in May.

VanEck's analysis suggests that Ethereum's price could increase by 487% from its current level, with a compound annual growth rate of 37.8%. The firm believes that the launch of spot Ethereum ETFs will attract at least $66 billion in free cash flow, driving up demand for the cryptocurrency. Additionally, Ethereum's ongoing scaling progress and strong on-chain data are expected to contribute to its growth.

Despite facing challenges, Ethereum remains the leading decentralized finance (DeFi) protocol and the most attractive altcoin in the market. VanEck's researchers predict that Ethereum will continue to gain market share from traditional financial markets and Big Tech, leading to a credible path to $66 billion in free cash flow to token holders by 2030.

In conclusion, VanEck's prediction suggests a bright future for Ethereum, with the potential for significant growth and increased adoption. As the launch of spot Ethereum ETFs approaches, investors are eagerly watching to see if this prediction will come to fruition. With Ethereum's strong fundamentals and growing demand, it's likely that this cryptocurrency will continue to play a major role in the crypto market.