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<p><strong>Financial experts at Standard Chartered Bank are hopeful about the US Securities and Exchange Commission (SEC) approving the first Ethereum spot exchange-traded funds (ETFs). They are also optimistic about Ethereum’s price, predicting it could reach $8,000 by the end of 2024.</strong></p><h2 id="header-0">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Chika-Moji-Airdrop.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>The cryptocurrency market is closely monitoring the SEC’s decisions on pending Ethereum spot ETF applications. VanEck’s ETF is expected to be ruled on in two days, with Ark Invest’s filing due <strong>by May 24th</strong>. This urgency has raised expectations for potential approvals this week. Adding to the speculation is the <a href="https://cryptosheadlines.com/coinbase-vs-sec-exchange-pursues-clarity-about-crypto-regulations/" rel="noopener noreferrer nofollow">SEC’s request for updated 19b-4 filings from crypto exchanges</a>, seen as a positive signal that the SEC is actively reviewing applications. <a href="https://cryptosheadlines.com/bitcoin-bull-run-timing-fresh-rally-predicted-by-bloomberg-analyst/" rel="noopener noreferrer nofollow">Analysts from Bloomberg</a>, Eric Balchunas and James Seyffart, have increased their approval likelihood estimate from 25% to a bullish 75%, reflecting this shift.</p><h3 id="standard-chartered-s-predictions-for-ethereum-etf-approval">Standard Chartered’s Predictions for Ethereum ETF Approval</h3><p>Geoff Kendrick, Head of Digital <a href="https://cryptosheadlines.com/crypto-storage-provider-zodia-raises-assets-36m-from-sbi-standard-chartered/" rel="noopener noreferrer nofollow">Assets Research at Standard Chartered</a>, predicts a high probability (80-90%) of the SEC approving Ethereum spot ETFs this week. He forecasts that these approvals will stimulate substantial demand for ETH tokens, estimating inflows ranging from 2.39 million to 9.15 million in the first year post-approval. This could potentially bring in $15 billion to $45 billion into the market.</p><p>Kendrick’s analysis draws parallels with the impact of Bitcoin ETFs, where Standard Chartered’s projections for Bitcoin inflows have proven accurate. He anticipates a similar trend with <a href="https://cryptosheadlines.com/bloomberg-analyst-valkyrie-converts-filing-to-bitcoin-and-ethereum-etf/" rel="noopener noreferrer nofollow">Ethereum ETFs</a>. Moreover, Kendrick expects the Ethereum-to-Bitcoin price ratio to remain stable around 5.4% through 2024.</p><p>Based on this ratio and assuming Bitcoin reaches $150,000 by year-end, Kendrick’s analysis suggests a potential Ethereum price target of $8,000. This represents a significant increase of over 113% from Ethereum’s current price of $3,749 (as of press time).</p><h2 id="header-1">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Chika-Moji-Airdrop-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><h3 id="standard-chartered-s-long-term-outlook-for-ethereum">Standard Chartered’s Long-Term Outlook for Ethereum</h3><p>Standard Chartered maintains a longer-term bullish outlook for Ethereum, setting a target of $14,000 for ETH by the end of 2025. This projection aligns with their forecast of <a href="https://cryptosheadlines.com/bitcoin-price-predicted-to-reach-280000-next-year-hedge-fund-manager/" rel="noopener noreferrer nofollow">Bitcoin reaching $200,000 next year</a>.</p><p><a href="https://cryptosheadlines.com/polkadot-struggles-to-maintain-7-price-level/" rel="noopener noreferrer nofollow">Also Read:   Polkadot Struggles to Maintain $7 Price Level</a></p><p>The potential approval of Ethereum spot ETFs this week, coupled with <a href="https://cryptosheadlines.com/standard-chartered-predicts-50k-for-bitcoin-and-8k-for-ethereum/" rel="noopener noreferrer nofollow">Standard Chartered’s optimistic price predictions</a>, has sparked excitement in the cryptocurrency market. While the SEC’s final decision is awaited, the upcoming days could prove crucial for Ethereum’s price trajectory.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

Standard Chartered Bank Predicts Ethereum (ETH) Price to Reach $8000

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