Ethereum

Standard

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 <p>In a recent report, the global financial institution Standard Chartered said that a spot Ethereum (ETH) ETF (Exchange Traded Fund) approval could push the asset’s price to <a rel="noopener noreferrer nofollow" title="$4000" href="https://thebittimes.com/tag/4000.html">$4000</a>. Reaching <a rel="noopener noreferrer nofollow" title="$4000" href="https://thebittimes.com/tag/4000.html">$4000</a> from current levels would translate to a growth of around 70%.</p>
 <p>According to Standard Chartered analyst Geoff Kendrick, ETH will mirror Bitcoin’s (BTC) trajectory. The US SEC’s (Securities and Exchange Commission) recent approval of 11 spot BTC ETFs was a significant milestone for the cryptocurrency industry. Many anticipate a similar ruling for Ethereum (ETH).</p>
 <p><strong>Also Read: Ethereum: SEC May Approve ETH ETF in May, Says Bloomberg</strong></p>
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 <h3 class="wp-block-heading" id="h-when-will-the-sec-approve-a-spot-ethereum-etf">When will the SEC approve a spot Ethereum ETF?</h3>
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 <p>According to Standard Chartered’s report, the US SEC may approve a spot ETH ETF by May 2024. The report notes that the SEC may initially delay its decision but will eventually green-light the applications.</p>
 <p>According to Kendrick, ‘<strong>pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs. If ETH prices perform similarly to BTC prices in the lead-up to BTC ETF approval, ETH could trade as high as $4,000 by then.</strong>‘</p>
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 <p>Kendrick noted there is no reason for the SEC to treat Ethereum (ETH) differently than Bitcoin (BTC).</p>
 <p><strong>Also Read: Ethereum: Standard Chartered Predicts ETH May Hit $35,000</strong></p>
 <p>Moreover, Standard Chartered has previously expressed its bullish outlook for the second-largest crypto by market cap. In an earlier report, the bank said that ETH could reach a price of $8,000 by 2026.&nbsp;The price rise would translate to a growth of over 242% from current levels. However, Standard Chartered’s predictions don’t stop there. The bank anticipates ETH to hit a price of $35,000 in the long run. Hitting $35,000 would translate to a growth of almost 1400% from current price levels.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-etf-to-push-eth-by-70-to-4000-standard-chartered-tbt78446.html">https://thebittimes.com/ethereum-etf-to-push-eth-by-70-to-4000-standard-chartered-tbt78446.html</a></p>

Ethereum ETF To Push ETH by 70% to $4000: Standard Chartered

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