Share this article
Ether to Hit $6.5K Later This Year Driven by Inflows Into Spot ETFs: Analyst
The crypto market is being overly pessimistic about the imminent launch of spot ether ETFs in the U.S. and net inflows could hit $20 billion in the first year, Steno Research said.
Updated Jun 28, 2024, 7:05 a.m. Published Jun 28, 2024, 7:03 a.m.
- Steno Research predicts net inflows of $15-20 billion into ether spot ETFs in the first 12 months.
- Ether is expected to hit $6,500 later this year due to strong ETF inflows and other positive factors, the report said.
- Galaxy Research estimates $5 billion of net inflows to spot ether ETFs in the first five months, Bitwise expects $15 billion of inflows in the initial 18 months.
The crypto market is being overly pessimistic about the imminent launch of spot ether exchange-traded funds (ETFs) in the U.S. and net inflows could hit $20 billion in the first year as the cryptocurrency has qualities that appeal to Wall Street, Steno Research said in a report on Thursday.
“We continue to forecast a net inflow between $15 billion and $20 billion in the first 12 months, even considering the outflow from the Grayscale Ethereum Trust (ETHE),” senior analyst Mads Eberhardt wrote, adding that this should drive the value of ether higher, in dollar terms and also relative to bitcoin .
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Ether is predicted to reach at least $6,500 later this year due to these expected inflows to spot ETFs, plus additional tailwinds, the report said.
Spot ether ETFs are on the cusp of becoming available for trading in the U.S. after the Securities and Exchange Commission (SEC) greenlighted filings from issuers last month. Once the S-1 filings are approved the new products will start trading, and this could happen as soon as next week according to reports.
If the estimated spot ether ETF inflows are correct, the ether/bitcoin ratio should strengthen to 0.065 later this year, Steno said.
“A smaller inflow into ether ETFs compared to bitcoin ETFs will have a greater impact on ether due to its lower market capitalization and substantially poorer liquidity,” and as a result of this inflows into ETH spot ETFS are more likely to surprise to the upside than the downside, the report added.
Steno is more bullish on the outlook for spot ether ETFs flows than others. Galaxy (GLXY) Research said spot ether ETFs could see $5 billion of net inflows in the first five months. Asset Manager Bitwise predicted $15 billion of net inflows in the first 18 months.
Read more:Ether Spot ETFs Could See $5B of Net Inflows in the First Five Months: Galaxy
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
