British multinational Standard Chartered is not just optimistic. Bitcoin—Ethereum Analysts say it will even go to the moon.
The second-largest digital asset could reach $8,000 by the end of this year and $14,000 by 2025, according to a Monday report from the bank.
That is, if a spot Ethereum exchange-traded fund (ETF) is approved, Jeffrey Kendrick, the company’s head of foreign exchange and cryptocurrency research, said in a note.
that much Ethereum price It currently stands at just over $3,500 per coin, according to CoinGecko data.
Some famous fund managers submitted We are proceeding with paperwork with the Securities and Exchange Commission (SEC) to launch an Ethereum ETF. These investment vehicles expose traditional investors to cryptocurrencies through stocks traded on stock exchanges.
Kendrick wrote in a note that the bank expects the ETF to receive approval from the SEC by summer.
“Ethereum is currently caught between two important events that are driving its price higher,” Kendrick wrote. “Significant structural upgrades have been made and US regulatory approval for the ETH ETF is expected in May.”
Kendrick also revealed that the network recently Denkun Upgrade This could be the reason why Ethereum is rising so quickly.
The network behind the second-largest cryptocurrency received an upgrade last week. Developers say these improvements will make transaction fees on the blockchain very affordable.
Kendrick added that upgrades to the network and lower costs make Ethereum “more competitive.”
Standard Chartered said Another research note on Monday said Bitcoin could reach $150,000 per coin by the end of the year if newly approved ETFs continue to gain popularity.
Last January, the U.S. Securities and Exchange Commission (SEC) Approved 11 of the investment vehicles.
They have been very popular with investors so far. large influx pushed out bitcoin price It has risen significantly.
Edited by Ryan Ozawa.