Join Our Telegram channel to stay up to date on breaking news coverage
The Ethereum price could soar more than 300% to $14K by the end of 2025 if Ethereum ETFs (exchange-traded funds) are approved in May, Standard Chartered said.
And the approval of such products could see the ETH price surge as high as $8K this year, said the bank’s head of forex and crypto research, Geoffrey Kendrick, in a Mar. 18 note. Ethereum traded at $3,248 as of 10.06 a.m. EST.
Ethereum is “between two important events” that could boost its value, the recently-launched Dencun upgrade and possible ETH ETF approval, he said
Asset Management Giants Apply To Launch Ethereum ETFs
Fund managers including BlackRock and Fidelity have filed with the US Securities and Exchange Commission (SEC) to launch ETH ETFs. If approved, these investment products will give traditional investors a more-familiar way to buy the crypto.
This could lead to a wave inflows into ETH, with Kendrick estimating $15-$25 billion within the first 12 months after approval.
The rollout of the Dencun upgrade earlier this month is also a bullish fundamental development, as it is expected to reduce transaction costs on Ethereum. This makes the network “more competitive,” said Kendrick.
No Upside For Gary Gensler To Give ETH ETFs The Green Light
While Standard Chartered believes an ETH ETF could be approved soon, investment bank TD Cowen is of the opinion that these investment products won’t be approved until late 2025 or early 2026.
📢 Spot Ethereum ETF approval 'unlikely until late 2025 or early 2026,' says Investment Bank TD Cowen#EthereumETF #Ethereum #ETH #Crypto pic.twitter.com/Cj9RFVyYVU
— BNB Swap (@BNBSwap) January 30, 2024
“There is no upside for SEC Chair Gary Gensler to approve a spot Ethereum ETF,” said TD Cowen Washington Research Group analysts led by Jaret Seiberg in a Jan. 29 note.
The analysts added that delaying ETH ETF approvals will be “a political call.” This is due to how “upset” progressive Democrats were after the SEC approved spot Bitcoin ETFs at the beginning of this year.
Related Articles:
- 5 Top Crypto Presales 2024: Unveiling the Most Anticipated Opportunities!
- Binance Denies Insider Trading Suspicions After BOME Whale Purchase Before Listing
- Bitcoin Price Prediction – Is the Bitcoin Rally Over? Altcoin Opportunities Emerge
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage