QCP Capital: If the spot ETF is approved, it will push ETH to $5,000 this year, and if it is rejected, it will fall back to $3,000

Odaily News QCP Capital said in a statement that regarding rumors that the U.S. Securities and Exchange Commission (SEC) may approve (Ethereum spot ETF), QCP Capital's view is that Ethereum spot prices are unlikely to stabilize here; if the spot ETF is approved, Ethereum prices will be closer to the short-term target of $4,000, or $5,000 later this year; if it is not approved, Ethereum prices will fall back to $3,000. This uncertainty leads to higher volatility, but the better trade may be the spot futures basis, which now yields more than 10% again.