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Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target

According to a recent report from Steno Research, net inflows into spot Ether exchange-traded funds (ETFs) could reach an impressive $20 billion within the inaugural year. The research highlights Ether’s appeal to Wall Street investors, suggesting that concerns within the crypto market about the upcoming launch of spot ETH ETFs may be unfounded.

Senior analyst Mads Eberhardt, commenting in the report, forecasts a net inflow ranging from $15 billion to $20 billion in the first year, despite potential outflows from the Grayscale Ethereum Trust (ETHE).

Eberhardt believes this significant influx of capital will not only increase the dollar value of Ether but also position it favorably relative to Bitcoin.

Ether Could Hit $6,500 After ETF Launch

The report projects that Ether could achieve a minimum price of $6,500 by year’s end, citing anticipated inflows into spot ETFs and other positive market indicators.

The imminent launch of spot Ether ETFs in the U.S. follows recent SEC approval of issuer filings. These new products are expected to commence trading as early as next week pending final approval of S-1 filings.

Steno Research suggests that if projected inflows into spot Ether ETFs materialize, the ether/bitcoin ratio could strengthen to 0.065 by year-end.

The report underscores that due to Ether’s lower market capitalization and liquidity compared to Bitcoin, even a modest inflow into Ether ETFs could significantly impact its value.

While Steno Research expresses optimism regarding spot Ether ETF flows, other entities offer divergent forecasts.

Galaxy Research estimates $5 billion in net inflows into spot Ether ETFs within the first five months, while Bitwise Asset Management anticipates $15 billion within the initial 18 months.

Ether Could Drop to $2,400

Meanwhile, Andrew Kang, founder and partner at Mechanism Capital, has suggested that Ether’s price could potentially drop significantly to as low as $2,400 following the launch of spot ETFs.

Kang noted that Ether currently attracts less institutional interest compared to Bitcoin, with limited incentives for converting it into ETF format.

Regarding anticipated flows relative to spot Bitcoin ETFs, Kang expects spot Ether ETFs to capture approximately 15% of the flows seen by spot Bitcoin ETFs.

This estimation aligns with the projections of Bloomberg ETF analysts Eric Balchunas and James Seyffart, who indicate that spot Ether ETFs might attract between 10% and 20% of the flows.

Significantly, several prominent asset managers have submitted revised proposals for Ethereum ETFs to the SEC.

According to Bloomberg analyst Eric Balchunas, filings from VanEck, BlackRock, Grayscale, Invesco Galaxy Digital, and Fidelity aim to update information on their respective Ethereum funds.

VanEck’s filing disclosed a management fee of 0.20% for its Ethereum fund, which is consistent with competitors like Franklin Templeton charging 0.19% in management fees.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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