Leading international cross-border bank, Chartered Standard has made another bullish prediction for ethereum. According to the bank's analysts, eth could see a rise to new all-time highs, driven by the possible introduction of eth Spot Exchange Traded Funds (ETFs).
eth price will rise to $14,000
Analysts at Standard Chartered Bank have maintained a eth/ethereum-price-takes-hit-3680/” rel=”nofollow noopener” target=”_blank”>optimistic outlook for ethanticipating that the second largest cryptocurrency could witness an exponential rise to $14,000 by 2025.
Detailed in a note on Monday, the analysts revealed ethereum/ethereum-aims-for-10000-driven-by-2-key-factors-according-to-experts/” rel=”nofollow noopener” target=”_blank”>key factors that could push ethereum towards the expected price target. In particular, the potential approval of an ethereum Spot ETF by the United States Securities and Exchange Commission (SEC) is a primary catalyst for eth's projected rise.
According to Standard Chartered analysts, if the SEC gives green light to ethereum spot ETFseth could follow a straight roadmap to bitcoin–ethereum-prediction-year-end/” rel=”nofollow noopener” target=”_blank”>$8,000 by the end of 2024 and $14,000 by 2025. Analysts have maintained an optimistic outlook on the approval of ethereum spot ETFs, anticipating SEC clearance by May 2024.
The company emphasized another important factor that could drive the price of eth to $14,000: ethereum's recent Dencun upgrade. Geoffrey Kendrick, head of Forex and Cryptocurrency research at Standard Chartered, anticipates an influx of demand for the cryptocurrency, citing the potential reduction of transaction costs and improvements to the ethereum blockchain facilitated by the upgrade as key drivers.
ethereum Spot ETFs Predicted to Attract $45 Billion
In addition to his ethereum/ethereum-new-5000-target/” rel=”nofollow noopener” target=”_blank”>bullish projections for ethKendrick has also stated that ethereum Spot ETFs could generate a whopping $45 billion in market inflows. Although there has been a ethereum-etfs-whats-casting-doubt-on-their-fate/” rel=”nofollow noopener” target=”_blank”>decrease in general optimism Regarding the possible SEC approval of ethereum ETFs in May, the analyst has maintained a positive outlook, stating the possibility of the SEC granting these investment assets approval. specified deadline May 23, 2024.
Based on Kendrick's insights shared with The Block, he has estimated inflows ranging between $15 billion and $45 billion in the first 12 months following the crisis. ETF Spot eth approval.
The cryptanalyst indicated that he intends to apply the same methodology to estimate Detect bitcoin ETF Inflows in his analysis. His reasoning suggests a similar trajectory for eth's future prospects, as seen with bitcoin following the approval of its ETF.
Just as millions of dollars poured into the bitcoin Spot ETF market after SEC acceptance, a similar scenario could unfold for ethereum if its ETF is authorized. In such a case, the price of the cryptocurrency could see a significant increase over eth/ethereum-price-rally-4k/” rel=”nofollow noopener” target=”_blank”>new all-time highsdriven by an increase in investor interest and capital inflows.
<img decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/e7svJHl6/" alt="Tradingview.com ethereum Price Chart” width=”3286″ height=”1530″/>
eth price at $3,200 | Source: ETHUSD on Tradingview.com
Featured image from CoinGecko, chart from Tradingview.com
