[Awaiting Ethereum ETF approval, Standard Chartered announces price target! 】
News about an Ethereum ETF has sent Ethereum and Bitcoin prices sharply higher, with Standard Chartered issuing a new report.
Standard Chartered expects an Ethereum spot ETF to be approved this week and bring in inflows of $15 billion to $45 billion in the first 12 months.
Analysts predict that Ethereum will reach $8,000 by the end of 2024 following ETF approval.
Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said in the report:
“We expect an Ethereum spot ETF to be approved this week and bring in inflows of 2.39 million to 9.15 million Ethereum in the first 12 months.” In U.S. dollars, this is equivalent to approximately $15 billion to $45 billion.
Kendrick also said that with ETF approval, Ethereum could keep pace with Bitcoin. “Given our prediction that Bitcoin will reach $150,000 by the end of 2024, Ethereum will also be on track to reach $8,000,” he said.
