The bitcoin and ether ETF markets are expected to grow to $450 billion in total, the report said.
Bernstein said this suggests flows of more than $100 billion in the next two years into crypto ETFs.
The U.S. approval of an ether spot ETF has positive implications for rival tokens like solana, the broker said.
“This would signify flows exceeding $100 billion over the next 18-24 months into crypto ETFs,” analysts Gautam Chhugani and Mahika Sapra wrote.
The broker predicts a bitcoin cycle high of $150,000 in 2025, and has a year-end price target of $90,000.
Ether gained about 26% last week after the U.S. Securities and Exchange Commission approved the 19b-4 filings of eight spot ETH ETF issuers. Once the S1 filings are approved ether ETF trading will go live on exchanges.
Now that ether has been classified a commodity and not a security, the “biggest controversy” surrounding the cryptocurrency has been settled, the report said.
Bernstein notes that ether is the first proof-of-stake based token to be approved as a spot ETF and its approval “paves the way for a blockchain asset to evolve from a token sale.
”This has positive implications for other blockchain tokens, as they may follow the same precedent, and solana (SOL) could benefit,” the report added.
