Steno Research: Ethereum spot ETF attracted US$20 billion in its first year! The currency price looks at 6500
- 王林Original
- 2024-06-29 07:15:071031browse
Research firm Steno Research reported that the market is too pessimistic about the prospects of Ethereum spot ETFs.
2. Ethereum has characteristics that attract Wall Street
The report stated that Ethereum has characteristics that attract Wall Street, and the potential to attract money after this type of ETF is listed in the United States cannot be underestimated.
3. The net inflow of funds in the first year can reach 20 billion US dollars
Steno Research senior analyst Mads Eberhardt predicts that even considering that Grayscale Ethereum Trust (ETHE) will encounter a wave of divestments, Ethereum is still expected to The currency spot ETF will attract net inflows of US$15 billion to US$20 billion in the first year after its listing.
4. The Ethereum spot ETF will push Ethereum above $6,500
The report pointed out that with the influx of funds into the Ethereum spot ETF, coupled with other bullish factors, it is optimistic that Ethereum will break through $6,500 later this year.
5. The inflow of Ethereum spot ETF funds has a greater impact on the price
Eberhardt added that compared to the Bitcoin spot ETF, although the inflow of funds into the Ethereum spot ETF is relatively smaller, it will have a greater impact on Ethereum. The reason for the large impact is that Ethereum’s market capitalization and liquidity are both low.
6. Other institutions estimate fund inflows
Galaxy Research estimates that the net inflow of the Ethereum spot ETF in the first 5 months will reach 5 billion US dollars; while Bitwise predicts that the inflow amount in the first 18 months will reach 150 One hundred million U.S. dollars.
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