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Standard Chartered Predicts Ethereum Reaching $8,000 Amid Upcoming ETF Approval.

Published 05/22/2024, 03:00 AM
Updated 05/22/2024, 03:45 AM
© Reuters Standard Chartered Predicts Ethereum Reaching $8,000 Amid Upcoming ETF Approval.
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  • 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.

Kendrick disclosed that the bank estimates a substantial influx of 15-45 billion dollars within the initial 12 months; p…

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