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04 July 2024
Analysts at Steno Research have suggested that the price of Ethereum could rise to $6500 following the launch of an ETF

Despite the overall market pessimism regarding spot Ethereum ETFs, Steno Research specialists forecast a net inflow of $15-20 billion into future funds over the course of a year.

Researchers believe that, in light of interest from traditional investors, the price of the second-largest cryptocurrency by market capitalization will reach at least $6500.

“If the inflow estimates are accurate, the ratio of Ethereum to Bitcoin should increase significantly. According to our forecasts, the ETH/BTC pair will reach 0.065 by the end of the year. This is largely due to the market’s predominantly pessimistic view on Ethereum ETFs,” the report states.

Steno Research noted the skeptical attitude of most experts towards future funds. For instance, Bloomberg exchange analysts Eric Balchunas and James Seyffart suggest that ETH ETFs will attract only 10-20% of the volumes of similar Bitcoin-based products.

According to the company’s calculations, if the experts’ predictions are correct and the net inflow into Bitcoin instruments amounts to $14.43 billion, the share of Ethereum funds would be approximately $1.5-3 billion. This would make the products unsuccessful, especially compared to the highly successful Bitcoin-based counterparts.