The post Optimism Grows as Spot Ether ETFs Near U.S. Launch  appeared on BitcoinEthereumNews.com.

The crypto market is buzzing with optimism as the launch of spot ether exchange-traded funds in the U.S. draws near. With the Securities and Exchange Commission recently approving filings from issuers, these ETFs could start trading very soon, potentially shaking up the market.  Read on to know the kind of impact we expect in the Ethereum market due to the launch of the Ethereum Spot ETFs.  Predictions about the Impact of Ether Spot ETFs on Ethereum  Steno Research forecasts net inflows of $15 billion to $20 billion for spot ether ETFs in the first year. Senior analyst Mads Eberhardt believes these inflows will significantly boost the value of ether, both in dollar terms and relative to bitcoin. Currently, Ether is priced at $3,447.3, with a 30-day change of -9.7%, a 7-day change of -1.5%, and a 24-hour increase of +1.3%. Earlier this month, ether’s price oscillated between a peak of $3,859.6 on June 5 and a low of $3,347.8 on June 24, indicating a range market. Future Ethereum Price Expectations  Eberhardt expects ether to reach at least $6,500 later this year due to the anticipated inflows and other positive factors. If the predictions hold true, the ether/bitcoin ration could strengthen to 0.065 by year-end. Today, ether is valued at BTC 0.05600, which is a 0.6% increase since yesterday and a 2.2% increase over the past week. Its 30-day change is -0.4%, and its 1-year change is -8.7%. In the last 24-hours, it has risen by 0.1%.  Ether ETFs & Bitcoin ETFs: A Comparative Analysis  The total market cap of Ethereum ETFs stands at $285.74 million, with 24-hour volume of $11.43 million. In contrast, Bitcoin ETFs have a total market cap of $78.42 billion and a 24-hour volume of $1.01 billion. The total market cap of Bitcoin is $1.21 trillion, while…

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Filed under: News - @ June 28, 2024 4:20 pm