Steve Ehrlich, co-founder and CEO of Voyager Digital (OTCQX:VYGVF), said Thursday that he has seen rising competition to Ethereum (ETH-USD), with cryptocurrencies like Solana (SOL-USD), Algorand (ALGO-USD), Cardano (ADA-USD) and Avalanche all taking market share.
Speaking to CNBC, Ehrlich also repeated his prediction that Bitcoin (BTC-USD) would reach $100K before the end of the year.
On the Ethereum competitors, the Voyager Digital CEO reported that users are looking for a cheaper, more efficient base to use for projects like NFTs.
Commenting on the progress Bitcoin ETFs have made towards getting regulatory ratification, Ehrlich argued that the eventual approval of a Bitcoin futures ETF will provide a clear indication that the asset class is gaining more mainstream acceptance.
Ehrlich predicted that the futures ETF will represent a step toward sanctioning an ETF based on the Bitcoin spot price.
"We're excited about having a Bitcoin ETF even though its on the futures side, because I think it starts to show that it's being more accepted by the government," he said.
Overall, the Voyager Digital CEO backed the idea of increased regulation of the crypto space, calling it a "natural progression for this asset class."
"When you do add regulation, and thoughtful regulation, to the ecosystem, it's going to spur adoption," he said.
Looking at the price action in Ethereum (ETH-USD) over the past year, the crypto has jumped about 860% in that time span. This has outstripped the gains posted in Cardano (ADA-USD), which has shown an advance of 455%.