- Standard Chartered forecasts Ethereum hitting $8,000 by year-end, anticipating imminent SEC approval of Ethereum ETFs.
- Ethereum ETF approval could attract $15B-$45B in the first year, mirroring Bitcoin’s ETF impact and driving significant price growth.
- SEC progress on Ethereum ETFs has raised approval odds from 25% to 75%, sparking above 21% price surge to $3,760.17 in 24 hours.
Standard Chartered, a renowned financial institution, has upheld its projection of Ethereum hitting $8,000 by year-end. It anticipates the approval of Ethereum ETFs in the coming weeks. Geoff Kendrick, the Head of FX Research and Digital Assets Research at Standard Chartered, expressed confidence in a forthcoming green light from the SEC for Ethereum ETFs.
Standard Chartered analyst Geoff Kendrick expects the ETH SPOT ETF to be approved this week, leading to inflows of $15 billion to $45 billion in the first 12 months, ETF could push ETH to $8,000 by the end of 2024. Bitcoin will reach $150,000 by the end of 2024.…— Wu Blockchain (@WuBlockchain) May 21, 2024
Kendrick disclosed that the bank estimates a substantial influx of 15-45 billion dollars within the initial 12 months; p…
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