Standard Chartered expects the Securities Exchange Commission (SEC) to approve the Ethereum Spot ETF this week. Geoff Kendrick, head of foreign exchange research and digital asset research at Standard Chartered, said he expects the Ethereum Spot ETF to drive an inflow of 239 to 9.15 million Ethereum in the first 12 months following approval. That's roughly equivalent to $15 billion to $45 billion in dollar terms.
Kendrick reiterated that the Ethereum year-end target price is $8,000, and the Ethereum price will reach $14,000 by the end of 2025. The deadline for the first round of Ethereum spot ETFs is approaching, VanEck's deadline is May 23, and Ark Invest/21 Shares' deadline is May 24.
Standard Chartered expects the SEC to approve the Ethereum Spot ETF this week, reiterating a year-end price target of $8,000
2024-05-21 11:25:18
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