Spot Ethereum ETFs Could Take In Up To $15B In 2024: Gemini Research

Cryptocurrency exchange Gemini is predicting a bright future for Ethereum ETH/USD with the imminent launch of spot ETFs in the United States.

What Happened: Gemini’s new research report suggests a surge of investor interest, estimating net inflows of up to $5 billion within the first six months of trading, Coindesk reported.

This influx of capital could push Ethereum’s value in U.S.-based spot ETFs to $13-$15 billion by the end of the year.

Gemini highlights the current undervaluation of Ethereum compared to Bitcoin BTC/USD, suggesting these inflows could significantly improve Ethereum’s relative standing.

“There’s a very attractive risk-reward scenario for Ethereum in the coming months,” Gemini states in the report, citing strong underlying factors like a thriving stablecoin environment and robust on-chain activity.

The news comes on the heels of the SEC’s approval of initial filings for spot Ethereum ETFs in May, following the successful launch of spot Bitcoin ETFs in January.

Also Read: Is The ‘Bitcoin Trump Pump’ Sustainable? Here’s What 10x Research Thinks

Gemini’s report suggests Ethereum’s price could rally by nearly 20% if the ETH/BTC ratio returns to its three-year median.

A return to the peak ratio could see an increase of 55%.

Gemini cautions that net inflows below $3 billion would be a disappointment given Bitcoin’s $15 billion in the first six months. On the other hand, exceeding $5 billion would be a strong showing and anything close to $7.5 billion would be a major surprise.

These projections align with last week’s report from Steno Research, which predicted Ethereum could reach $6,500 by the end of the year due to strong ETF inflows and other positive factors.

What’s Next: The Benzinga Future of Digital Assets event on Nov. 19 offers a unique opportunity to hear from industry leaders and gain valuable insights into this dynamic market.

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