LATEST: Standard Chartered Predicts Ether ETF Approval, Sets $8,000 Year-End Goal

Standard Chartered is forecasting the imminent approval of Ether ETFs by the U.S. Securities and Exchange Commission (SEC), with upcoming deadlines for proposals from VanEck and Ark Invest/21Shares. Geoff Kendrick, the bank’s head, expresses an 80-90% confidence in a favorable decision expected this week. This anticipated approval could lead to a significant market influx, with estimates ranging from $15 billion to $45 billion, potentially boosting Ether’s price to $8,000 by the end of the year.

The optimism surrounding the SEC’s decision has already led to a 19% increase in Ether’s price, currently sitting at $3,719. Analysts now suggest a 75% likelihood of ETF approval, projecting that Ether could reach $8,000 by the end of this year and possibly $14,000 by the end of 2025, paralleling Bitcoin’s market performance.

If approved, these ETFs would bring substantial capital into Ether, enhancing its position as a mainstream financial asset and following the successful precedent set by Bitcoin ETFs. This development underscores the growing integration of cryptocurrencies into traditional financial markets.

The Block

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