Record Predictions Are Flying in the Air for Ethereum! Analysts Saying ETH Will Receive Wall Street's Support Announced Their 2024 Year-End Price Target!

Critical dates are approaching for Ethereum, which received approval from the SEC after Bitcoin. Because market analysts expect ETH ETFs to be opened for trading on July 4.

In the face of this expectation, many names are rising in the ETH price, while Steno Research analysts speaking to Coindesk announced their predictions.

Accordingly, analysts stated that they foresee a net inflow of $15-20 billion into spot Ethereum ETFs in the first 12 months and predicted at least $6,500 for the ETH price.

Stating that they expect the Ethereum price to reach at least $6,500 by the end of this year if the predicted figures for ETH ETFs are achieved, Steno Research analysts expect the ETH price to rise both against the dollar and against BTC.

Pointing out that the cryptocurrency market is extremely pessimistic about spot ETH ETFs, analysts said that net inflows could reach $ 20 billion in the first year because Ethereum has features that appeal to Wall Street.

Stone Research analysts led by senior analyst Mads Eberhardt wrote in the report:

Even accounting for outflows from Grayscale Ethereum Trust (ETHE), we continue to forecast net inflows of $15 billion to $20 billion in the first 12 months.

In the face of these inflows, the Ethereum value should increase further against both the dollar and BTC.

“We expect the ETH price to reach at least $6,500 later this year, thanks to expected net inflows into spot ETFs as well as positive headwinds.”

Analysts recently said smaller inflows into Ethereum ETFs compared to Bitcoin ETFs would have a larger impact on ETH, which has a lower market cap and significantly weaker liquidity than BTC.

*This is not investment advice.