Despite the prevailing market pessimism regarding spot Ethereum ETFs, analysts at Steno Research forecasted a net inflow of $15-20 billion into future funds over the course of a year.
Amid interest from traditional players, researchers believe the price of the second-largest cryptocurrency by market capitalization will reach “at least $6500.”
“If the inflow estimates are correct, the Ethereum to Bitcoin ratio should increase significantly. According to our forecasts, ETH/BTC will reach 0.065 by the end of this year. This is largely due to the market’s prevailing pessimistic view on Ethereum ETFs,” the report states.
Steno Research noted the skeptical attitude of most experts towards future funds. Specifically, Bloomberg exchange analysts Eric Balchunas and James Seyffart suggested that ETH ETFs would capture only 10-20% of the volumes of similar products based on digital gold.
According to the company’s calculations, if the experts’ forecast holds true, with a net inflow into Bitcoin instruments of $14.43 billion, the share of Ethereum funds would be approximately $1.5-3 billion. This would render the products “unsuccessful, especially compared to the highly successful counterparts based on the first cryptocurrency.”
“The performance of these inevitable spot exchange-traded funds based on Ethereum is crucial for the price of ether and the ETH/BTC ratio. Strong ETF performance will not only create direct buying pressure but also indirectly encourage other market participants to acquire the asset,” added Steno Research.
Earlier, analysts at QCP Capital predicted ether would rise to $4800 following the approval of an ETH ETF. Experts believe that demand amounting to 10-20% of Bitcoin fund inflows will trigger a positive movement.
As reported by K33 Research, they estimated a net inflow into products of $3.1–4.8 billion in the first five months after trading begins.
VanEck has raised its Ethereum forecast to $22,000 by 2030.