A recent report by Steno Research shows that the cryptocurrency market underestimates the impact of the soon-to-be-approved exchange-traded funds (ETFs) for Ethereum (ETH) in the USA. According to Steno Research, these ETFs are expected to attract significant capital inflows, reaching up to $20 billion in the first year. Despite potential outflows from the Grayscale Ethereum Trust (ETHE), strong capital flows are anticipated. Mads Eberhardt, a senior analyst at Steno Research, is convinced that these substantial inflows will increase the value of ETH in both US dollars and Bitcoin (BTC).
