分析師稱，在資金流入現貨 ETF 的推動下，以太幣今年稍後將達到 6500 美元

加密貨幣市場對即將在美國推出現貨以太坊（ETH）交易所交易基金（ETF）過於悲觀

Steno Research is predicting that ether will hit at least $6,500 later this year, thanks to strong inflows into spot ETFs.

Steno Research 預測，由於大量資金流入現貨 ETF，今年稍後以太幣價格將至少達到 6,500 美元。

The crypto market is being overly pessimistic about the imminent launch of spot ether (ETH) exchange-traded funds (ETFs) in the U.S., and net inflows could hit $20 billion in the first year, Steno Research said in a report on Thursday.

Steno Research 在周四的一份報告中表示，加密市場對即將在美國推出現貨以太坊 (ETH) 交易所交易基金 (ETF) 過於悲觀，第一年淨流入可能達到 200 億美元。

This is because ether has qualities that appeal to Wall Street, such as being the second-largest cryptocurrency by market capitalization and having strong institutional demand.

這是因為以太坊具有吸引華爾街的品質，例如按市值計算是第二大加密貨幣並且具有強勁的機構需求。

“We continue to forecast a net inflow between $15 billion and $20 billion in the first 12 months, even considering the outflow from the Grayscale Ethereum Trust (ETHE),” senior analyst Mads Eberhardt wrote, adding that this should drive the value of ether higher, in dollar terms and also relative to bitcoin (BTC).

資深分析師Mads Eberhardt 寫道：「即使考慮到灰階以太坊信託基金(ETHE) 的流出，我們仍然預測前12 個月的淨流入量將在150 億至200 億美元之間。」他補充說，這應該會推動以太幣的價值走高，以美元計算，也相對於比特幣（BTC）。

Ether is predicted to reach at least $6,500 later this year due to these expected inflows to spot ETFs, plus additional tailwinds, the report said.

報告稱，由於現貨 ETF 的預期資金流入以及額外的有利因素，預計今年稍後以太坊價格將至少達到 6,500 美元。

Spot ether ETFs are on the cusp of becoming available for trading in the U.S. after the Securities and Exchange Commission (SEC) greenlighted filings from issuers last month.

自上個月美國證券交易委員會 (SEC) 批准發行人提交的文件後，現貨以太 ETF 即將在美國上市。

Once the S-1 filings are approved the new products will start trading, and this could happen as soon as next week according to reports.

據報道，一旦 S-1 申請獲得批准，新產品將開始交易，最快可能在下週開始交易。

If the estimated spot ether ETF inflows are correct, the ether/bitcoin ratio should strengthen to 0.065 later this year, Steno said.

Steno 表示，如果預計以太幣 ETF 現貨流入量正確，今年稍後以太幣/比特幣比率應會升至 0.065。

“A smaller inflow into ether ETFs compared to bitcoin ETFs will have a greater impact on ether due to its lower market capitalization and substantially poorer liquidity,” and as a result of this inflows into ETH spot ETFS are more likely to surprise to the upside than the downside, the report added.

「與比特幣ETF 相比，流入以太坊ETF 的資金較少，將對以太坊產生更大的影響，因為其市值較低且流動性大幅較差。」因此，流入ETH 現貨ETF 的資金更有可能比比特幣ETF 意外上漲。

Steno is more bullish on the outlook for spot ether ETFs flows than others. Galaxy (GLXY) Research said spot ether ETFs could see $5 billion of net inflows in the first five months. Asset Manager Bitwise predicted $15 billion of net inflows in the first 18 months.

Steno 比其他人更看好以太坊 ETF 現貨流動的前景。 Galaxy (GLXY) Research 表示，現貨以太幣 ETF 可能在前五個月內出現 50 億美元的淨流入。 Asset Manager Bitwise 預測前 18 個月淨流入 150 億美元。