According to analysts, Ethereum ETF inflows may spark a record high price for Ether at the time of their launch. Before their launch, the newly approved Spot Ethereum ETFs have attracted a great deal of interest. Experts have predicted how high Ether will go. Gemini, a cryptocurrency exchange, recently forecast that ETFs could expect $5 billion of net inflows in their first six months. But new research suggests the number could even double.
Tom Dunleavy believes the Ethereum ETF could reach a value of $10 billion. “We saw $15 billion in flows for Bitcoin. I think we’re probably going to see $5 billion to $10 billion for Ethereum,” Dunleavy was quoted by CoinTelegraph. “I expect a very positive price impact sending us to new all-time highs by early Q4.”
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What Will Ethereum Do Once ETFs Are Launched?
A dozen Ethereum ETFs have been filed and are waiting for final approval. The asset will then be available on the marketplace. After the Spot Bitcoins ETFs were approved in January, they exploded within the first couple of weeks. BTC reached an all-time record high in March. Spot Ethereum ETFs are expected to do the same for Ether, which is currently the second-highest-performing crypto asset by market cap. Ether is currently trading at $3,136.48 and reached its highest level of $4,721.07 back in May 2021.
Dunleavy expects that ETH ETFs will attract about $1 billion a month. “base case” For the best, next The asset is expected to last for a few months. As the asset is “less available on exchanges” The MV Global representative said that the currency could be pushed to higher levels quickly by the hype.
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Ether’s price has increased by almost 2% over the past 24 hours. The asset is still disappointing investors, even though it’s currently above $3100. The long-term prospects for Ethereum are extremely positive following the launch of an ETF. Last week was a good example. VanEckFidelity and other Spot Ethereum ETF Issuers have filed revised S-1 Forms with the SEC. The product is now one step closer. Experts predict that the investment vehicle is likely to begin trading in the next few months. next Two weeks.
Tom Dunleavy has suggested that Ether’s price could skyrocket by 2024 if this prediction is accurate. ETF assets are likely to follow the same performance as Bitcoin ETFs from earlier in this year. The ETF will likely perform similarly to the Bitcoin ETFs earlier this year.
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Source: watcher.guru