Ethereum
Optimism Grows as Spot Ether ETFs Near US Launch
THE crypto market The U.S. spot ether ETF market is buzzing with excitement ahead of the launch of these funds. With the Securities and Exchange Commission recently approving the issuers’ applications, these ETFs could begin trading very soon, potentially shaking up the market.
Read on to find out what kind of impact we expect on the Ethereum market due to the launch of Ethereum Spot ETFs.
Predictions on the impact of Ether Spot ETFs on Ethereum
Steno Research forecasts net inflows of $15-20 billion for spot ether ETFs in the first year. Senior analyst Mads Eberhardt believes that these inflows will significantly increase the value of ether, both in dollar terms and relative to bitcoin. Currently, Ether is quoted at $3,447.3, with a 30-day change of -9.7%, a 7-day change of -1.5%, and a 24-hour increase of +1.3%. . Earlier this month, the price of ether oscillated between a high of $3,859.6 on June 5 and a low of $3,347.8 on June 24, indicating a range market.
Future Ethereum Price Expectations
Eberhardt expects ether to reach at least $6,500 later this year due to anticipated inflows and other positive factors. If the forecast holds true, the ether/bitcoin ratio could strengthen to 0.065 by the end of the year. Today, ether is valued at 0.05600 BTC, which is up 0.6% since yesterday and 2.2% over the past week. Its 30-day change is -0.4% and its 1-year change is -8.7%. Over the past 24 hours, it is up 0.1%.
Ether ETF and Bitcoin ETF: a comparative analysis
The total market capitalization of Ethereum ETF The total market capitalization of Bitcoin is $285.74 million, with a 24-hour volume of $11.43 million. In contrast, Bitcoin ETFs have a total market cap of $78.42 billion and a 24-hour volume of $1.01 billion. Bitcoin’s total market cap is $1.21 trillion, while Ethereum’s total market cap is $414.59 billion.
Other Major Predictions on the Impact of Spot ETH ETFs
Steno Research’s outlook for Ether spot ETF inflows is more bullish than other companies. For example, Galaxy Research forecasts $5 billion in net inflows over the first five months, and Bitwise forecasts $15 billion over 18 months. Eberhardt argues that low inflow into ether ETFs compared to Bitcoin ETF will have a greater impact due to Ether’s lower market cap and lower liquidity.
As the launch of spot ether ETFs approaches, the crypto market is poised for some potentially major changes. Steno Research’s optimistic forecast highlights the substantial impact these new financial products could have on ether’s value and broader market dynamics.
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