SEC Standard Chartered Analyst Predicts $45 Billion Inflow for Ether ETF in First Year
Standard Chartered Bank predicts SEC approval of Spot Ethereum ETFs could attract $15 to $45 billion in the first year.
Geoff Kendrick parallels these expectations with the historically accurate predictions for Bitcoin ETFs.
According to a recent update from Crypto News Flash (CNF), Standard Chartered Bank expects the United States Securities and Exchange Commission (US SEC) to approve Spot Ethereum ETFs shortly.
Today’s post, updated by Coin Market Cap, features Geoff Kendrick, the bank’s head of FX Research and Digital Assets Research. He forecasts that the approval could catalyze inflows ranging from $15 billion to $45 billion within the first year. This anticipation aligns with the previous inflows observed with Bitcoin ETFs, suggesting a strong bullish momentum for Ethereum.
In a recent tweet on X, Collin Brown, a well-known member of the crypto community, excitedly advised Ethereum (ETH) and Ripple (XRP) holders to “Get ready for the ride.”
This past Monday, the U.S. securities regulator urged Nasdaq and CBOE to make adjustments to their applications for spot Ethereum (ETH) ETFs. According to sources cited by Reuters, these modifications could lead to potential approval.
Ethereum’s Price Trajectory: An Optimistic View
Standard Chartered remains bullish on Ethereum’s price potential, projecting it might reach $8,000 by the end of this year. This optimism is driven by Ethereum’s growing use in blockchain-based smart contracts, gaming, and the tokenization of traditional assets. Looking further ahead, the bank speculates that Ethereum could hit $14,000 by the end of 2025, assuming Bitcoin reaches $200,000.
Regulatory Developments and Market Readiness
As the SEC reviews multiple Spot Ethereum ETF applications from major asset managers like BlackRock, VanEck, and Fidelity Investments, the decisions expected between May and August could significantly influence the U.S. cryptocurrency market landscape. This regulatory timeline is critical as it will dictate the pace at which these financial products enter the market.
Amid these developments, Ethereum’s market price has shown robust growth, currently trading at $3,784.54, reflecting a 3.62% increase in the past day and a significant 31.26% surge over the last week.
Filed under: Bitcoin - @ May 22, 2024 1:53 am