๐ ETHER TO HIT $6.5K DRIVEN BY SPOT ETF INFLOWS: ANALYST ๐
Analysts predict a significant surge in Ether's value, potentially hitting $6,500 later this year. This bullish forecast is driven by the anticipated inflows into spot Ether ETFs in the U.S.
๐ฐ Massive Inflows Expected
๐ Steno Research forecasts net inflows between $15 billion and $20 billion into Ether spot ETFs within the first 12 months. Despite market pessimism, they believe these ETFs will attract significant investments due to Ether's appealing qualities to Wall Street.
๐ผ Galaxy Research estimates $5 billion of net inflows within the first five months. Similarly, Bitwise predicts $15 billion of inflows in the initial 18 months. These figures highlight the strong demand and potential positive impact on Ether's market value.
๐ Why This Matters
๐ According to Mads Eberhardt, a senior analyst at Steno Research, these inflows should drive Ether's value higher, both in dollar terms and relative to Bitcoin (BTC). He suggests that even considering the outflows from the Grayscale Ethereum Trust (ETHE), the net inflow will significantly benefit Ether.
๐ Price Prediction
๐ต Steno Research predicts Ether could reach $6,500 later this year. The expected inflows into spot ETFs, coupled with additional market tailwinds, support this optimistic outlook. Furthermore, they forecast the Ether/Bitcoin ratio could strengthen to 0.065 by the end of the year.
๐ง SEC Approval on the Horizon
๐ The launch of spot Ether ETFs in the U.S. is imminent. The Securities and Exchange Commission (SEC) recently greenlit filings from issuers. Once the S-1 filings are approved, trading could start as soon as next week. This approval is a crucial step towards realizing the expected inflows and subsequent price increase.
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