British multinational Standard Chartered isn’t just bullish Bitcoin—Ethereum Analysts say it also plans to go to the moon.
The bank’s Monday report claims the second-largest digital asset could reach $8,000 by the end of this year and $14,000 by 2025.
This means that if a physical Ethereum exchange-traded fund (ETF) is approved, Jeffrey Kendrick, the company’s head of foreign exchange and crypto research, said in a note.
of ethereum price It is currently trading at just over $3,500 per coin, according to CoinGecko data.
Several prominent fund managers Submitted We will complete administrative procedures with the Securities and Exchange Commission (SEC) to release the Ethereum ETF. Such investment vehicles would expose traditional investors to cryptocurrencies through stocks traded on stock exchanges.
Kendrick said in the memo that the bank expects to get the green light from the SEC for the ETF by the summer.
“Ethereum is currently in between two significant events that will drive the price higher,” Kendrick wrote. “Significant structural upgrades have just been made, and US regulatory approval of the ETH ETF is expected in May.”
Kendrick also commented on the recent status of the network. Denkun upgrade That could be the reason for Ethereum’s surge.
The network behind the second-largest cryptocurrency was upgraded last week. Developers say this improvement will make transaction fees on the blockchain much cheaper.
Kendrick added that upgrades and lower network costs will make Ethereum “more competitive.”
standard chartered Said A separate research note on Monday said Bitcoin could reach $150,000 per coin by the end of this year if the popularity of the newly approved ETF continues.
In January, the U.S. Securities and Exchange Commission approved There are 11 investment vehicles.
These have been very popular among investors to date. large influx I pressed bitcoin price significantly increased.
Edited by Ryan Ozawa.
