Despite skepticism in the crypto market, Steno Research experts foresee strong potential for the upcoming spot ether ETFs in the U.S., predicting net inflows up to $20 billion in the first year. Senior analyst Mads Eberhardt expects inflows between $15 billion and $20 billion, even after considering outflows from the Grayscale Ethereum Trust. This influx is anticipated to boost ether's value in both dollar terms and against bitcoin.

Steno's report predicts ether's value will reach at least $6,500 this year, driven by ETF inflows and other positive factors. The spot ether ETFs, approved by the SEC last month, could start trading as early as next week. Steno also expects the ether-to-bitcoin ratio to strengthen to 0.065, with ether ETFs having a more significant impact than bitcoin ETFs due to ether's smaller market cap and liquidity.

In contrast, Galaxy Research and Asset Manager Bitwise offer more conservative estimates, predicting net inflows of $5 billion in the first five months and $15 billion in the first 18 months.