A leading international cross-border bank; Standard Chartered I made another optimistic prediction for Ethereum. According to analysts at the bank, ETH could rise to all-time highs due to the potential introduction. Spot ETH Exchange Traded Fund (ETF).
ETH price expected to rise to $14,000
Analysts at Standard Chartered Bank said: Optimistic outlook for ETHThe second-largest cryptocurrency is expected to skyrocket exponentially to $14,000 by 2025.
Analysts elaborated in a note Monday. key elements This could lead Ethereum to its expected price target. In particular, the potential Ethereum Spot ETF approved The announcement by the U.S. Securities and Exchange Commission (SEC) is the main catalyst for the expected surge in ETH.
According to analysts at Standard Chartered: SEC approves spot Ethereum ETFETH can follow a straight roadmap. $8,000 by the end of 2024 Analysts have remained optimistic about the approval of an Ethereum spot ETF, expecting SEC approval by May 2024.
The company highlighted another important factor that could push the ETH price to $14,000. Ethereum’s recent Dencun upgrade. Geoffrey Kendrick, head of forex and cryptocurrency research at Standard Chartered, expects an influx of demand for cryptocurrencies, citing the potential. Reduce transaction costs Improvements to the Ethereum blockchain driven by upgrades as a key driver.
The Ethereum spot ETF is expected to attract $45 billion.
Besides his Optimistic outlook for ETHKendrick also revealed that the Spot Ethereum ETF could trigger market inflows of as much as $45 billion. Meantime Overall optimism declines As of May, analysts remained positive on the SEC’s likely approval of an Ethereum ETF, confirming the SEC’s chances of approving such an investment asset. specified deadline May 23, 2024.
According to insights Kendrick shared with The Block, he estimates that inflows will range from $15 billion to $45 billion in the first 12 months following blockchain. Spot ETH ETF approved.
The cryptocurrency analyst said he plans to apply the same methodology to his estimates. Spot Bitcoin ETF Inflows In his analysis. His reasoning suggests a similar trajectory for ETH’s future prospects as witnessed with Bitcoin following ETF approval.
Like millions of dollars pouring in Spot Bitcoin ETF A similar scenario could potentially unfold for Ethereum if the ETF is accepted by the market following SEC approval. In such cases, cryptocurrency prices may rise significantly. new all-time highIt was driven by a surge in investor interest and capital inflows.
ETH price at $3,200 | Source: ETHUSD on Tradingview.com
Featured image from CoinGecko, chart from Tradingview.com