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 Kendrick’s 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 SEC’s stance on Ethereum and Grayscale’s Ethereum Trust.
Kendrick’s 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.
Ethereum’s Upcoming Upgrade
- Kendrick comments on Ethereum’s upcoming upgrade, predicting a positive impact on Ether prices.
Standard Chartered Bank’s 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 Bitcoin’s 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.
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