Ethereum will rise above $6,500 at the end of 2024 thanks to inflows into spot ETFs based on the asset. CoinDesk reports this with reference to Steno Research analysts.
Experts predict that the net inflow of funds into the Ethereum ETF could be $15-20 billion in the first year.
“We continue to forecast net inflows of $15 billion to $20 billion in the first 12 months after launch, even accounting for outflows from the Grayscale Ethereum Trust (ETHE). […] This should lead to an increase in the value of Ethereum in dollar terms, as well as relative to Bitcoin,” said Steno Research senior analyst Mads Eberhardt.
Experts added that if the forecast inflows into the ETF are correct, the Ethereum to Bitcoin ratio should strengthen to 0.065 at the end of 2024. At the time of writing, this figure is 0.056 on the Binance exchange, according to TradingView.
According to Steno Research, lower inflows into ETH ETFs compared to Bitcoin funds will have a greater impact on the asset due to its smaller market capitalization.
Previously, Galaxy Digital experts stated that the influx of funds into Ethereum-ETF will amount to $1 billion monthly.
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