Ethereum (ETH) Price to Surge to $6,500 on Spot ETF Inflows: Analyst

The crypto market is overlooking the potential of spot Ethereum (ETH) exchange-traded funds (ETFs) in the US, according to Steno Research. They predict $15-20 billion in net inflows into these ETFs within the first year, driving ETH prices up to $6,500 by year's end. This bullish forecast is based on the idea that ETH's qualities appeal to Wall Street and its relatively smaller market capitalization means inflows will have a greater impact on price. Other analysts are less bullish, with Galaxy Research expecting $5 billion in inflows over five months and Bitwise predicting $15 billion over 18 months. These spot ETH ETFs are expected to begin trading in the US shortly, potentially as early as next week, following SEC approval. The report also highlights the strengthening ETH/BTC ratio, which is expected to reach 0.065 later this year.