Gemini, a cryptocurrency exchange, has predicted that the recently approved Spot Ethereum ETFs will see net inflows of $5 billion over their first six months. The company published a report on the product.
Gemini states that ETH has not yet reached its full value in relation to Bitcoin. Also, the company noted that there was a possibility of a change in direction if ETFs saw hefty inflows following their official launch. Ethereum has had mixed predictions despite Bitcoin’s ETF being successful. It will be even more intriguing as the date of its launch should be approaching.
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Gemini forecasts $5 B in ETF ETH Inflows
Gemini, the company behind the rumored launch of Spot Ethereum ETFs this week predicted $5 billion-worth inflows for its first 6 month. This would be a great success, as it could lead to the approval of the United States’ second crypto-based ETF in 2024.
In the first half year of the product, combining the Grayscale Ethereum Trust with ETH-ETFs would result in $13 Billion in Assets Under Management. Also, it is noted that the report could also be hugely important for Ether’s status.
“Given the AUM comparable in international ETF markets, robust on-chain dynamics, and differentiating factors such as a thriving stablecoin environment, there is favorable risk-reward of ETH catch-up in the months to come,” “The firm” said.
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Bitcoin ETF saw inflows worth $15 billion during the first six-month period. The report then noted that ETH receiving a third would be a good sign. Conversley, anything around $7.5 billion will be considered a success. “surprise,” According to the report,
All eyes are now on the launch date. Bloomberg’s Erich Balchunas Early this week, a significant delay in delivery was reported. SEC specifically requested the resubmission of S-1 form by July 8. It is estimated that the product will be released between middle and end July.
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Source: watcher.guru