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Standard Chartered expects the U.S. SEC to approve an Ethereum spot ETF this week and reiterates its year-end target price of $8,000

Standard Chartered expects the U.S. SEC to approve an Ethereum spot ETF this week and reiterates its year-end target price of $8,000

Bitget2024/05/21 11:42

Golden Finance reported that Standard Chartered expects the U.S. Securities and Exchange Commission (SEC) to approve an Ethereum spot ETF this week. Geoff Kendrick, head of foreign exchange research and digital asset research at Standard Chartered Bank, said he expects the Ethereum spot ETF to drive inflows of 2.39 to 9.15 million Ethereum in the first 12 months after it is approved. In U.S. dollars, that's roughly equivalent to $15 billion to $45 billion. Kendrick reiterated that the year-end price target of Ethereum is US$8,000, and the price of Ethereum will reach US$14,000 by the end of 2025. Deadlines for the first round of Ethereum spot ETFs are approaching, with VanEck’s closing on May 23rd and Ark Invest/21 Shares closing on May 24th.

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