The recent approval of Ethereum Spot ETFs has ignited discussions across the crypto space, with passionate community members pitching their preferred cryptocurrency. However, one cryptocurrency that has not gotten the attention it deserves in the ETF frenzy is VeChain (VET).
VeChain, a sustainability-focused blockchain project, is a strong contender. It has a large community, and an ETF could send VeChain to unprecedented heights, just like Bitcoin. Proponents believe a VET ETF could be imminent, potentially triggering a significant price increase.
Read Also: Citing VeChain Historical Pattern, Analyst Predicts 1680% VET Price Rally. Here’s when
VeChain’s Growing Recognition and Strong Partnerships
VeChain has undeniably made significant strides in recent years. The launch of VeBetterDAO, a decentralized autonomous organization promoting sustainability initiatives on the blockchain, demonstrates its commitment to the environmental impact of blockchain technology. Additionally, high-profile partnerships with the UFC and more showcase the project’s growing recognition and real-world applications.
These developments have fueled enthusiasm within the VeChain community, leading to speculation about a potential VET ETF. While there is no official confirmation from VeChain or regulatory bodies, the possibility highlights the growing demand for the project. With many pitching Solana and XRP for the next ETF approval, VET stands out as another strong contender.
A Potential 100x Price Increase
With VET ETFs, a 100x price increase becomes very likely. Bitcoin climbed from around $44,000 to its all-time high above $73,000 following its ETF approval. This climb of over 65% is significant, and the ETFs that follow, like the Ethereum ETFs, are expected to perform better.
Should a VET ETF come to fruition, it could introduce VeChain to a wider audience of traditional investors. ETFs offer a familiar investment vehicle for those hesitant to enter the cryptocurrency market directly. Increased accessibility could lead to a rise in VET demand, potentially influencing its price.
Although factors like market conditions and overall investor sentiment can influence VET’s potential trajectory, Bitcoin’s post-ETF performance inspires confidence in a spectacular future for VET if it gets ETFs.
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Read Also: Top Chartist Predicts VeChain (VET) Rocket Rally to $1.8. Here’s the Timeline
Are VeChain ETFs Coming?
One crypto user on X claimed that VET ETFs have been approved. However, at press time, no VET ETFs have been applied for. Although the community is excited about potential ETFs, this excitement cuts across the entire crypto market as the Shiba Inu and XRP communities have shown similar reactions. Shiba Inu lead developer Shytoshi Kusama is also pushing for SHIB ETFs, and SHIB might beat VET in the ETF race.
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