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Inflows to Ethereum exchange-traded funds may be set to explode.

Bitwise investment chief Matt Hougan said on Wednesday that these products could rake in as much as $10 billion in the second half of the year.

For context, these products have only seen $1.5 billion in net inflows year-to-date and $4.3 billion in net inflows since launch, according to SoSoValue data as of July 2.

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According to Hougan, however, these inflows will likely accelerate in the second half of the year as the narrative of ETH as fuel for stablecoins and asset tokenization becomes clearer.

“Flows into Ethereum ETFs are going to accelerate significantly in H2,” he said. “The combination of stablecoins & stocks moving over Ethereum is an easy-to-grasp narrative for traditional investors. ETH ETFs did $1.17 billion in flows [sic] in June. They could do $10b in H2.”

Stablecoins have emerged as the primary bullish narrative for Ethereum in recent weeks as the U.S. advances regulations to further legitimize the sector. Optimism has also grown with the significantly positive market reception of stablecoin issuer Circle’s (NYSE:CRCL) stock.

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The theory is that greater adoption of stablecoins could lead to greater valuation of ETH, as the Ethereum network boasts nearly 50% of the stablecoin market share. With the U.S. Treasury recently predicting that the stablecoin sector could grow from an almost $260 billion market to a $2 trillion market, many are optimistic that ETH could be worth a lot more.

Tokenization has also emerged as another bullish narrative for Ethereum. The narrative is gaining attention following Robinhood’s (NASDAQ:HOOD) decision to launch tokenized equities on the Ethereum Layer 2 Arbitrum.

Accelerated ETF inflows could mean significant upside potential for ETH in the second half of the year, especially with the emergence of more and more corporate treasuries. Most recently, Wall Street veteran and Fundstrat co-founder Tom Lee announced a new role as chairman of BitMine (NYSE:BMNR), with plans to turn the Bitcoin miner into the “MicroStrategy of Ethereum.” BitMine said it intends to kick off its Ethereum accumulation with a $250 million price placement.