Standard Chartered analysts: SOL, XRP and other cryptocurrency ETFs may be approved in 2025
2024-05-24 11:59:46
Geoffrey Kendrick, head of forex and digital asset research at Standard Chartered, said that following the recent approval of the Ethereum spot ETF, other cryptocurrency ETFs could be approved in 2025. Kendrick pointed out that the approval of the Ethereum ETF implies that ETH and similar tokens are not considered securities by the SEC. He believes that it is difficult for the SEC to declare them as securities given that the core technology is very similar to ETH in several cases. Kendrick expects the dominance of Bitcoin and Ethereum to rise, especially in terms of Sharpe ratio. He reiterated that the Bitcoin spot ETF will bring a lot of capital inflows, and the price of BTC is expected to reach $150,000 before the end of the year. He also predicted that the Ethereum ETF will bring in $150-45 billion in its first year of listing, and the ETH price is expected to reach $8,000 by the end of the year.
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