Ethereum Could Soar To $22K By 2030 On Revenue-Generating Power, VanEck Says

Updated: 06 June 2024

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Ethereum could soar to $22,000 by 2030, driven by its revenue-generating potential, fund manager VanEck said.

“We project ETH’s 2030 valuation based upon a forecast of $66B in free cashflows generated by Ethereum and accruing to the ETH token,” the global investment management firm said in a June 5 report. “ETH is a revolutionary asset with few parallels in the non-crypto financial world. ETH can be thought of as ‘Digital Oil’ because it is consumed by engaging in activity on Ethereum.”

Ethereum Has The Potential To Disrupt TradFi And Big Data Firms

VanEck is among top fund managers competing to issue a spot Ethereum ETF in the US. These products receiving the green light will allow financial advisors and institutional investors to hold ETH, which could lead to a wave of capital inflows into the asset and an increase in its price.

Ethereum’s potential to “disrupt” current financial businesses and “Big Tech platforms like Google and Apple” is another likely driver of its price increase, VanEck said.

The potential approval of ETH ETFs and Ethereum’s potential to shake up the big tech and financial industries could boost the altcoin’s price by almost 500% from its current levels, the firm said.

ETH is trading up 1.4% at $3,851 as of 05.43 a.m. EST.

$4 Billion Predicted To Flow Into Ethereum ETFs In The First 5 Months

VanEck is not the only firm that is bullish on ETH. K33 predicts that the crypto could enter a parabolic rally following the approval and launch of spot Ethereum ETFs.

The research firm also forecast that $4 billion will flow into these investment products within just the first 5 months after launch, based on “ relative global ETH assets under management (AUM) market share compared to BTC of 28%.”

As anticipation of a spot ETH ETF launch and a subsequent price surge grows, the number of active users within the Ethereum ecosystem is on the rise as well. Over the past 4 years, the number of daily Ethereum users has increased ninefold, according to Bitwise.

ETH still fee king while bringing L2 transaction fees under a cent

Modern miracle

Ethereum doesn't get enough credit for this pic.twitter.com/T4Le3FIBue

— RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) June 5, 2024

Meanwhile, the bulk of the transactions recorded on Ethereum in the first quarter of 2024 were facilitated by layer-2 networks. This was a major shift compared to the start of 2021, when the Ethereum mainnet handled the lion’s share of the transactions, Bitwise added.