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Coinspeaker Gemini Predicts $5B Inflows for Ether Spot ETFs in First 6 Months New York-based cryptocurrency exchange Gemini recently said that spot Ether (ETH) exchange-traded funds (ETFs) might attract big investments as soon as they launch. It expects these ETFs to generate $5 billion in net inflows during the first six months of trading. Given that the Grayscale Ethereum Trust (ETHE) now has $10 billion in assets under management (AUM), this estimate indicates that the combined AUM for spot ETH ETFs might reach $13 billion to $15 billion during the same period. Currently, ether’s market value is near its multi-year lows compared to bitcoin. It is currently trading around $3,446, down by around 8% in the past 30 days. The second-largest cryptocurrency holds a market cap of $414 billion. Gemini predicts that the expected inflows from the new Ether spot ETFs will solidify Ether’s position in the market. It notes the favorable conditions for ether such as the comparable AUM in international ETF markets, and strong on-chain dynamics, among other unique factors. “There is favorable risk-reward of an ETH catch-up trade in the months to come,” Gemini states. It is important to note that the Securities and Exchange Commission (SEC) has already partially approved 19b-4 filings from issuers in May. Industry leaders suggest that once the S-1 filings receive the green light, these new financial products could begin trading as early as July. The approval of Ether spot ETFs follows the launch of bitcoin spot ETFs in the US in January. ETH/BTC Ratio According to the Gemini report, if the Ether/Bitcoin ratio returns to its median value from the past three years, Ether could see a rally of almost 20% to 0.067. The report highlights that net inflows below $3 billion into spot ether ETFs would be seen as a…

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Filed under: News - @ July 2, 2024 5:16 pm