Predicted Approval of Ethereum ETFs
Standard Chartered Bank states that the U.S. SEC will approve Ethereum ETFs by 2024.
Insight into Standard Chartered Bank
The bank is a British multinational corporation with a rich history and a strong presence in global markets.
Highlights of Kendrickβs Research
- The bank has shared key aspects of their report on Ethereum ETFs and their predictions on the SEC’s approval timeline and price projections for Ethereum.
- Kendrick also highlights the SECβs stance on Ethereum and Grayscaleβs Ethereum Trust.
Kendrickβs Optimism for Crypto
- Kendrick has shared earlier predictions on spot Bitcoin ETF inflows and price forecasts.
- He also comments on the post-approval Bitcoin price trends.
Market Dynamics Post-ETF Approval
- Standard Chartered Bank states that Ethereum is less susceptible to post-approval selling compared to Bitcoin due to Grayscale Ethereum Trust.
The Future of Ethereum ETFs
- Standard Chartered Bank discusses the types of Ethereum ETFs and their comparison with European ETFs.
Ethereumβs Upcoming Upgrade
- Kendrick comments on Ethereumβs upcoming upgrade, predicting a positive impact on Ether prices.
Standard Chartered Bankβs Prediction from October 2023
The bank had predicted Ethereum’s fivefold increase in value and potential industry expansion last October.
Moreover, Kendrick suggested positive market-wide impacts from Bitcoinβs upcoming halving event in April 2024.
The predicted $8,000 valuation is just the beginning, with long-term valuation estimates between $26,000 and $35,000.
Hot Take
The predicted approval of Ethereum ETFs by Standard Chartered Bank brings optimism for the future valuation and industry expansion of Ethereum, backed by SEC approval and predictions for upcoming market-wide impacts.
Ethan Glober emerges as a visionary weaving the roles of crypto analyst, relentless researcher, and editorial artisan into a captivating narrative of insight. Within the dynamic realm of digital assets, Ethan’s insights resonate like an intricate melody, resonating with curious minds from all walks of life. His ability to untangle the most complex threads of crypto intricacies seamlessly melds with his editorial finesse, transforming intricacy into a harmonious composition of understanding. Guiding both seasoned explorers and curious newcomers, Ethan’s insights serve as a compass for well-informed decision-making amidst the ever-evolving currents of cryptocurrencies. With the craftsmanship of a linguistic virtuoso, they craft narratives that enrich the evolving mosaic of the crypto landscape.
