Although the SEC has put a hold on approving Ether ETFs for now, Standard Chartered remains bullish about the future of the cryptocurrency market.
According to the bank’s original prediction, May was slated to be the approval month. However, analyst Geoff Kendrick has brought up possible obstacles such as the ongoing Uniswap lawsuit and increasing Treasury yields, causing a delay in the timeline.
According to prediction market Polymarket, the probability of Spot Enter ETFs gaining approval by next month is estimated to be around 14%.
Standard Chartered maintains an optimistic outlook, regarding the current market turmoil as a fleeting issue that will soon pass. Despite this, they continue to stand firm with their year-end predictions: Bitcoin at $150,000 and Ethereum at $8,000 by the end of 2021. By 2025, Ethereum is projected to reach an impressive price point of $14,000.
Standard Chartered has changed its stance, predicting that the SEC will probably not authorize Ethereum spot ETFs in the upcoming month based on their most recent research.
— BSCN (@BSCNews) April 23, 2024
At present, Bitcoin is priced at $64,33, marking a 3.40% decrease in value over the past 24 hours. Concerning Ethereum, it is currently trading at $3,144.75 according to the current time, reflecting a 2.43% decline based on recent 1-day price trends.
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2024-04-25 03:32