Eth was toasted by the ICO ban in China and will get hammered by the lack of ICOS in the u.s. compliant with pages 9-10 of the SEC opinion paper.  Any ICOs offered to U.S. persons will necessarily be restricted to HNWIS and institutions for the foreseeable future, and frankly, the bond desk at some reinsurer isn't going to be dabbling in ICOs any time soon.  That leaves prop desks and family offices.  Prediction: Eth becomes a UK/swiss phenomenon by the end of November after new EU rules come out.  How long it can stay kicking in UK and derived (Gibraltar looks pretty good) jurisdictions remains to be seen.  So far they seem pretty darn friendly.

Now if you could ICO a token with a known NAV... that would be interesting.  I don't think prop desks and family offices will play a game of bigger fool.  That one is over. The eth winter will be a long one.  Btc will comeback soon because 21e6.  New ICOS will need to market better and show some substance to due-diligence in order to thrive.  Once that second generation of ICOs starts to pop up, eth will soon bottom out, until they all start using Lisk (for ease of coding) or Tezos (for ease of correctness proof) in which case Eth may never come back.