According to Standard Chartered, if an Ethereum exchange-traded fund (ETF) is approved in May, the price of Ethereum could soar to more than 300% and reach $14,000 by the end of 2025. The bank's head of foreign exchange and crypto research, Jeffrey Kendrick, said in a memo on March 18 that the approval of such products could send the price of ETH soaring to $8,000 this year. As of 10:06 a.m. EST, Ethereum was trading at $3,248.
He also said that Ethereum is in between “two important events” that could boost its value, namely the recently launched Danjun upgrade and a possible ETH ETF approval.
Asset management giant applies to issue Ethereum ETF
Fund managers including BlackRock and Fidelity have applied to the U.S. Securities and Exchange Commission (SEC) to issue Ethereum ETFs. If approved, these investment products will provide traditional investors with a more familiar way to buy cryptocurrencies.
Kendrick estimates that ETH could attract $15 billion to $25 billion in inflows in the first 12 months after approval.
The launch of the Danjun upgrade earlier this month is also a positive fundamental factor, which is expected to reduce transaction costs on Ethereum. Kendrick said this makes the Ethereum network "more competitive."
Investment bank TD Cowen believes that although Standard Chartered believes that an ETH ETF may be approved soon, these investment products will not be approved until late 2025 or early 2026.
“SEC Chairman Gary Gensler has no merit in approving an Ethereum ETF,” Jarrett Seiberg of TD Cowen’s Washington research group said in a Jan. 29 memo.
Analysts also said that delaying the approval of the ETH ETF would be "a political decision" because progressive Democrats were "frustrated" after the SEC approved the Bitcoin ETF earlier this year.
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