The co-founder of venture capital firm Mechanism Capital said that the price of ether could correct by 30% after spot ETH exchange-traded funds (ETFs) are approved.
According to Andrew Kang, at this stage, Ethereum is attracting much less attention from institutional investors compared to Bitcoin. ETH-ETFs will be able to attract only 15% of the funds that cryptocurrency exchange-traded funds based on BTC received at the start, the expert notes.
He noted that the Ethereum ecosystem needs to be positioned as a decentralized financial settlement layer, a world computer, or a Web3 application store to enhance its appeal among investors.
At the same time, Kang noted that selling new ideas for the use of Ethereum to funds will be difficult, since the asset is perceived by companies as an overvalued share of one large technology organization.
Previously, Andrew Kang suggested that there is a significant amount of global wealth and income that could be channeled into Bitcoin.
Source: Cryptocurrency
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