Will Ethereum ETFs Give ETH ‘Super’ Strength? Analysts Predict $6,500 Price Target
- Researchers are predicting a significant capital flow into spot Ethereum ETFs.
- Steno Research thinks spot Ethereum ETF inflows would reach $20 billion within one year.
- The firm thinks the inflow would push ETH’s price to $6,500 this year.
Spot Ethereum ETFs could attract a flood of capital in their first year, potentially driving Ether’s price to $6,500 by the end of 2024, according to research from Steno. The Denmark-based firm predicts a net inflow of $15 billion to $20 billion into these newly approved investment products, which could launch as early as next week.
Steno Research finds Ethereum to possess qualities that appeal to Wall Street; hence, the validation for its spot ETFs to attract $20 billion in the first year after its launch.
Steno Research’s senior analyst Mads Eberhardt stated the forecast accounts for the potential outflow from Grayscale’s Ethereum Trust (ETHE), adding that the expected inflow would drive ETH’s price higher relative to the dollar and Bitcoin.
It is worth noting that the SEC had in-principle approved spot Ethereum ETFs on May 23, 2024. The research firm believes the inflows will begin soon after regulators ap…
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