Will Canny is CoinDesk's finance reporter.
Demand for the new products is expected to come from independent investment advisors and broker/dealer platforms.spot exchange-traded funds , once approved for trading, could see $1 billion of net inflows a month, Galaxy Research said in a report on Wednesday.
“We expect the net inflows into ETH ETFs to be 20-50% of the net inflows into BTC ETFs over the first five months, with 30% as our target, implying $1 billion/month of net inflows,” analyst Charles Yu wrote.in the U.S. after the Securities and Exchange Commission approved filings from applicants last month. The regulator must also approve their S-1 filings before the products are cleared to trade. Spot bitcoin ETFs launched in the U.S.
Ether will be more price sensitive to ETF inflows than bitcoin due to the amount of total supply of ETH that is locked in staking, bridges, and smart contracts, and the lower amount held on centralized exchanges, Galaxy said.Outflows from the Grayscale Ethereum Trust will also likely be a drag on ether ETF inflows, and Galaxy estimates that these negative flows could be about 319,000 ETH per month or $1.1 billion.
Unlike GBTC, ETHE is not faced with forced selling due to bankruptcy from the likes of 3AC and Genesis, which supports the notion that ether will see less selling pressure related to Grayscale trusts than bitcoin, the report added.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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