The post Ethereum Price Could Hit $8,000 with ETF Approval: Standard Chartered appeared first on Coinpedia Fintech News
Standard Chartered has made a bold prediction regarding the approval of Spot Ethereum ETFs, stating that massive inflows to the market could raise the price of Ethereum.
According to Geoff Kendrick, Head of FX Research and Digital Assets Research at Standard Chartered, the U.S. Securities and Exchange Commission will more than likely pass Ether ETFs this week, which could lead to billions in market inflows and huge increases in Ethereum’s price.
Bullish Outlook on Ethereum ETFs From Standard Chartered
Geoff Kendrick sounds very confident about the passing of the Spot Ethereum ETF. He places the odds at an 80% to 90% chance. He told The Block, “We think approval is likely: VanEck’s and Ark Invest/21Shares’ applications are due for a decision by the SEC by 23 and 24 May, respectively.”
Kendrick estimated, “After approval, we estimate that sp
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