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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-etf-hopes-and-financial-forecasts" rel="noopener noreferrer nofollow">Ethereum ETF: Hopes and Financial Forecasts</a><br></p>
<p style="text-align: justify">Eleanor Terrett, known for her insights on the <a href="https://en.bitcoinhaber.net/bitcoins-swift-recovery-amidst-market-turbulence-and-whale-activity-surge" rel="noopener noreferrer nofollow">Bitcoin</a> ETF, recently cast doubt on the likelihood of a spot <a href="https://en.bitcoinhaber.net/u-s-senators-challenge-sec-on-crypto-etf-decisions" rel="noopener noreferrer nofollow">Ethereum</a> ETF gaining SEC approval, dampening investor optimism. Yet, a Standard Chartered Bank official has presented a more hopeful stance, suggesting an approval for the Ethereum ETF might occur by May 23.</p>
<h2 id="spot-ethereum-etf-a-contrasting-perspective">Spot Ethereum ETF: A Contrasting Perspective</h2>
<p style="text-align: justify">Despite Terrett’s skepticism, Geoffrey Kendrick of Standard Chartered maintains a belief in the approval of the spot Ethereum ETF by the May deadline. Contrary to the dimming consensus, Kendrick projects a substantial influx of $15 to $45 billion into the ETF within its first year. His forecast references similar patterns from the Bitcoin ETF experience. Furthermore, Kendrick highlights the SEC’s historical stance of not labeling ETH as a <a href="https://en.bitcoinhaber.net/peckshields-analysis-reveals-downtrend-in-cryptocurrency-losses-from-hacks-and-scams-in-2023" rel="noopener noreferrer nofollow">security</a>, a factor that could favor the ETF’s approval.</p>
<h2 id="potential-impact-on-ethereum-s-price">Potential Impact on Ethereum’s Price</h2>
<p style="text-align: justify">Kendrick predicts a bullish future for Ethereum’s price should the ETF be approved. He anticipates that Ethereum’s value could soar to $8,000 by the end of 2024, a significant increase from an earlier prediction for 2026. Looking further ahead, he suggests a potential rise to $14,000 by the end of 2025. His analysis is based on the current BTC to ETH price ratio and the expected performance of BTC. Standard Chartered’s same-day projection for BTC hitting $150,000 by the end of 2024 lends weight to this Ethereum price forecast.</p>
<p style="text-align: justify">This positive outlook, however, is not widely shared, with many market experts doubting a May approval by the SEC. Bloomberg’s senior ETF Analyst Eric Balchunas notably revised his expectations down to 30%. Kendrick’s optimism remains undeterred, as he envisions a significant injection of capital into Ethereum following the ETF’s potential launch.</p>
<p style="text-align: justify">In conclusion, despite a mixed sentiment, Kendrick’s analysis suggests a strong financial injection and price surge for Ethereum, contingent upon an ETF approval. His estimates highlight the potential for a transformative effect on the Ethereum market, presenting an intriguing scenario for investors and market watchers alike.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-etf-hopes-and-financial-forecasts" rel="noopener noreferrer nofollow">Ethereum ETF: Hopes and Financial Forecasts</a></h5>

Ethereum ETF: Hopes and Financial Forecasts

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