- Spot Ether Exchange-Traded Funds net inflow between $15 billion and $20 billion in the first 12 months
- Ether to reach at least $6,500 later this year
- Wall Street could find Spot Ether (ETH) Exchange-Traded Funds (ETFs) appealing
As the crypto market prepares to welcome the imminent launch of Spot Ether (ETH) Exchange-Traded Funds (ETFs) in the United States, the high expectations it generated earlier have largely waned.
However, Steno Research, a Copenhagen-based independent research house on everything macro, geopolitical and crypto, has released a report which predicts that because Wall Street could find Spot Ether (ETH) Exchange-Traded Funds (ETFs) appealing, net inflows could reach $20 billion in its first year.
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Steno Research’s senior analyst, Mads Eberhardt, stated, "We continue to forecast a net inflow between $15 billion and $20 billion in the first 12 months, even considering the outflow from the Grayscale Ethereum Trust (ETHE)." This should increase the value of ether both in terms of dollars and in relation to Bitcoin.
These anticipated inflows to spot ETFs, along with other positive factors, are expected to propel ether to at least $6,500 later this year, according to the report.
Because of ether's lower market capitalization and significantly worse liquidity, "a smaller inflow into ether ETFs compared to bitcoin ETFs will have a greater impact on ether." As a result, inflows into ETH spot ETFS are therefore more likely to surprise to the upside than the downside, the report continued.
Compared to other people, Steno is more optimistic about the future of spot ether ETF flows. Spot ether ETFs could see $5 billion in net inflows in the first five months, according to Galaxy (GLXY) Research. Bitwise, an asset manager, projected net inflows of $15 billion over the first 18 months.
As the time of writing, Ether was trading at $3,451, with 24 hours trading volume down 0.78% at $11.8 billion and market capitalisation up 0.42% at $414.4 billion, according to CoinMarketCap.
5 simple ways to make money from crypto
Meanwhile, TheRadar earlier reported cryptocurrencies have become very popular in the last few years and many worldwide are making a living out of them.
Some of the ways to make money from crypto include mining, staking, play-to-earn and participating in air drops.
