Ether Could Plummet to $2,400 After ETF Launch

Ether could drop to as low as $2,400 following the launch of spot Ether exchange-traded funds (ETFs), according to Andrew Kang, founder and partner at crypto-focused venture capital firm Mechanism Capital. As per CoinGecko, Ether is currently trading at $3,410. A fall to $2,400 would represent a nearly 30% decrease from its current price. In a June 23 X post, Kang noted that, unlike Bitcoin, Ether attracts less institutional interest, there are few incentives to convert spot Ether into ETF form, and the network cash flows have been underwhelming. “How much upside would an ETH ETF Provide? I would argue