Ethereum

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Ethereum Price Forecast: As spot Ethereum ETFs trading nears, predictions hint at massive inflows of up to $15 billion. According to a report by Matt Hougan, a Bitwise investment officer the milestone could be achieved in just 18 months. 
Meanwhile, the crypto market has been sending mixed signals this week, starting with a sell-off on Monday and an immediate recovery on Tuesday. Ethereum price hovered at $3,376 toward the US session on Wednesday, June 26, and after correcting by 5% in seven days. 
Bitcoin had settled above $61,000 following a rebound from $60,000 support. <a rel="nofollow" href="https://www.coingecko.com/">CoinGecko</a> data shows no change in the total market cap which holds at $2.386 trillion. 
<h2 class="p1" id="how-spot-ethereum-etfs-will-achieve-15b-net-inflows">How Spot Ethereum ETFs Will Achieve $15B Net Inflows</h2> 
According to Hougan’s analysis, investors are likely to buy <a href="https://coingape.com/us-spot-bitcoin-etf-record-net-inflows-has-bitcoin-price-really-bottomed/">Bitcoin</a> and <a href="https://coingape.com/ethereum-etf-attract-only-15-bitcoin-etf-influx-10x-research/">Ethereum ETFs</a> based on their respective market shares. 
Currently, Bitcoin accounts for a cumulative market value of 74%, with investors in the United States pumping $56 billion in BTC ETFs since the approval on January 10, 2024. 
Bitwise anticipates that US investors will have put $100 billion in Bitcoin ETFs by the end of 2035, as more and more fund managers allocate funds to the digital product. 
Hougan argued that “using this $100 billion figure as a reference, spot ether ETPs would need to attract $35 billion in assets to reach parity, a process I expect will take about 18 months.” 
It is worth keeping in mind that the existing Grayscale Ethereum Trust is worth $10 billion and awaiting to convert to an ETF. This implies that Ethereum ETFs will need only $25 billion to reach the $35 billion target. 
However, this is not likely to be the case considering in Canada, Ethereum ETPs make up between 22 – 23% of the total assets under management (AUM). In other words, Ether ETFs could underperform the total market cap weight. 
Therefore, the Bitwise report cuts its estimate to $18 billion in 18 months where $3 billion is allocated to unforeseen market factors, arriving at the $15 billion spot Ethereum ETFs’ outlook. 
<h2 class="p1" id="ethereum-price-forecast-when-is-eth-likely-to-blast-to-5-000">Ethereum Price Forecast: When Is ETH Likely To Blast To $5,000?</h2> 
Ethereum price is currently engulfed in uncertainty, the same uncertainty holding many cryptocurrencies including Bitcoin from advancing into the bull market. 
<figure id="attachment_204499" aria-describedby="caption-attachment-204499" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-204499" src="https://coingape.com/wp-content/uploads/2024/06/ETHUSD_2024-06-26_16-02-15.png" alt="Ethereum price forecast price chart | Tradingview" width="2694" height="1444" srcset="https://coingape.com/wp-content/uploads/2024/06/ETHUSD_2024-06-26_16-02-15.png 2694w, https://coingape.com/wp-content/uploads/2024/06/ETHUSD_2024-06-26_16-02-15-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/06/ETHUSD_2024-06-26_16-02-15-1224x656.png 1224w, https://coingape.com/wp-content/uploads/2024/06/ETHUSD_2024-06-26_16-02-15-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/06/ETHUSD_2024-06-26_16-02-15-1536x823.png 1536w, https://coingape.com/wp-content/uploads/2024/06/ETHUSD_2024-06-26_16-02-15-2048x1098.png 2048w, https://coingape.com/wp-content/uploads/2024/06/ETHUSD_2024-06-26_16-02-15-150x80.png 150w" sizes="(max-width: 2694px) 100vw, 2694px">
 <figcaption id="caption-attachment-204499" class="wp-caption-text">
 Ethereum price forecast price chart | Tradingview
 </figcaption>
</figure> 
A descending channel on the four-hour chart guides the retreat from May’s peak of $3,972. The major support stands out at $3,300 as highlighted by the black band. 
If broken, declines are likely to extend to $3,200 with $3,000 and $2,800 not too far away. The Relative Strength Index (RSI) downtrend reinforces the bearish grip, implying that the sell-off is not over. 
On the positive side, the upcoming trading of spot Ethereum ETFs could change market sentiment, encouraging traders to long ETH for a breakout above $4,000. 
This <a href="https://coingape.com/price-predictions/ethereum-eth-price-prediction/">Ethereum price prediction</a> reveals should ETF net inflows surge drastically, a rally might break out driving the smart contracts token to reach the $5,000 milestone. 
The post <a href="https://coingape.com/markets/ethereum-price-forecast-eyeing-5000-as-15b-spot-ethereum-etf-inflows-linger/">Ethereum Price Forecast: Eyeing $5,000 As $15B Spot Ethereum ETF Inflows Linger?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Ethereum Price Forecast: Eyeing $5,000 As $15B Spot Ethereum ETF Inflows Linger?

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