Ethereum
How much is $1,000 and $10,000 invested
Cathie Wood’s Ethereum (ETH) Bullish Prediction: How Much $1,000 and $10,000 Could Be Worth
While Bitcoin made headlines in 2024 with the approval of spot exchange-traded funds (ETFs) and the upcoming halving, Ethereum (ETH) is potentially positioned to make waves in the months and years to come, according to Cathie Wood, CEO of Ark Invest.
Ark Invest hosted its Big Ideas event, an annual opportunity to examine key market trends and potentially disruptive technologies. During one of these events, Wood claimed that Ethereum could reach a market capitalization of $20 trillion by 2032.
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The current market cap of ETH is around $400 billion and has approached $500 billion in 2024. The market cap of the S&P 500 is around $40-45 trillion. If ETH reached a market cap of $20 trillion, the price per token would be around $166,000.
The CEO of Ark Invest believes that the widespread adoption of ETH as a financial tool will be the main catalyst for this price prediction. Ethereum is a way for users to access decentralized financial applications. The apps allow anyone to interact with different financial actions, such as trading, lending, borrowing, and staking, without going through a centralized intermediary. If these applications are adopted at scale, the demand for ETH – and its price – could increase.
Discussions about Ethereum spot ETFs are ongoing. The release of ETFs could have a similar impact to that of spot Bitcoin ETFswhich generated huge capital inflows and pushed up the price of Bitcoin.
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But potential ETF sponsors face several regulatory hurdles, including related to the Security and Exchange Commission’s (SEC) classification of ETH as a security rather than a commodity like BTC was classified. Despite this, some remain convinced that ETH ETFs could arrive as soon as this year, which could have a positive impact on the price of Ethereum.
Wood is known for making extraordinary predictions about tokens in the future. For example, during Bitcoin Investor Day in March, she predicted that Bitcoin would hit a high of $3.8 million by 2030. While these predictions may have some merit, they are largely speculative and may be influenced by Ark’s entanglement with assets. The company is one of several to launch a Bitcoin spot ETF (ARKB) and also offers an Ethereum futures ETF (ARKZ). So, Wood could give these predictions as a way to increase engagement with his company’s products.
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If ETH reaches $166,000 per token by 2030, it would create huge gains. More specifically, an investment of $1,000 would be worth $54,330. An investment of $10,000 would be worth $543,300. These huge profits may not materialize, but according to Wood, it’s a possibility.
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This item Cathie Wood’s Ethereum (ETH) Bullish Prediction: How Much $1,000 and $10,000 Could Be Worth originally appeared on Benzinga.com
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