Standard Chartered Expects SEC To Approve Ethereum ETFs This Week

The cryptocurrency market is gaining excitement over spot Ethereum ETFs, similar to Bitcoin ETFs, as the first round of approval dates for VanEck and Ark Invest/21Shares are approaching.

Standard Chartered Bank expects the US Securities and Exchange Commission to approve Ether ETFs this week, with a year-end target of $8,000 for Ethereum.

Geoff Kendrick, Standard Chartered Bank FX Research and Digital Assets Research Head, predicts that if spot Ethereum ETFs are approved, Ethereum could maintain its current 5% price increase throughout 2024.

He also predicts that Bitcoin will reach $150,000 by the end of 2024, bringing Ethereum to $8,000. Standard Chartered predicts that Bitcoin will reach $200,000 by the end of 2025, bringing Ethereum to $14,000.

(With inputs from Shikha Singh)

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