If we can believe Mads Eberhardt of Steno Research, we will see an Ethereum price of $ 6,500 in 2024. The analyst predicts this price based on the Ethereum ETFs, which could be launched in the United States next week.

Huge inflows into Ethereum ETFs?

That Mads Eberhardt and Steno Research are bullish on Ethereum becomes clear when you hear about the gigantic capital inflow they predict for the Ethereum ETFs.

In the first 12 months, Steno Research expects an inflow of 15 to 20 billion dollars, even taking into account the outflows of the Grayscale Ethereum ETF.

According to Eberhardt, this should not only give the Ethereum price a significant boost against the US dollar, but also against Bitcoin.

Later that year, Steno Research therefore predicts an Ethereum price of $6,500. That would result in a nice doubling from here and bring the market cap quite close to Bitcoin’s.

Others are less optimistic

By the way, Steno Research is very bullish about Ethereum ETFs.

Other parties are less enthusiastic about the ETFs for Ethereum. Among those parties is Galaxy Research. Although they are also bullish about Ethereum and the launch of the ETFs, they expect an inflow of 5 billion dollars in the first five months.

Bitwise expects an inflow of $15 billion over the first 18 months. Still very bullish, but slightly less explosive than Steno Research’s expectations.

Please note: Galaxy Digital and Bitwise are of course parties that also want to market an Ethereum ETF. They benefit from being extra positive about expectations.

In this respect it is striking that they come up with lower estimates than Steno Research.

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Source: https://newsbit.nl/ethereum-koers-van-6-500-in-2024/

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