• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Sunday, June 1, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Standard Chartered Predicts Ethereum (ETH) to Hit $4,000 

Jordan Avery by Jordan Avery
February 2, 2024
in News
Reading Time: 3 mins read
0
Standard Chartered Predicts Ethereum to Hit $4,000
Share on TwitterShare on Facebook

British bank Standard Chartered expects the US Securities and Exchange Commission (SEC) to approve a spot Ethereum ETF in May, drawing parallels with the approval of a Bitcoin ETF. Analyst Jeff Kendrick predicts stable growth for ETH ahead of approval, as well as a price of $4,000 even before a decision is made. Such optimistic estimates were not affected by the SEC’s recent postponement of BlackRock’s ETH-ETF application, which resulted in the deadline being extended by another 45 days.

 

Standard Chartered: Rapid Growth in the Price of Ethereum

Standard Chartered Predicts Ethereum-eth- to Hit $4,000 - ETF

Standard Chartered’s bullish outlook on the Ethereum-ETF approval process is due to the similarities with the BTC-ETF adoption in 2023. The bank expects the SEC to use the entire period, and a decision will be made on May 23. Jeff Kendrick believes that Ether’s market dynamics, combined with a smaller stake in the underlying trust compared to Bitcoin, could lead to a more stable price path even after approval. 

Standard Chartered Opinion on Why will the SEC Approve ETH-ETF in May?

Despite recent speculation fueled by the sell-off in the Grayscale Bitcoin Trust following its conversion to a spot Bitcoin ETF, Kendrick remains bullish on Ethereum in a similar scenario, forecasting a potential 70% upside for the asset. Kendrick is confident that in the near future the regulator will begin to postpone applications – just as it did with spot Bitcoin ETFs. He names the preliminary approval date as May 23. Then the deadline for applications from asset managers such as VanEck and Ark/21Shares will end. 

 

Hester Pierce Calls for ETH Spot ETFs to Be Approved

SEC Commissioner Hester Peirce, known in the crypto community as “cryptoMom,” also spoke about funds for the second cryptocurrency. She called on the regulator to approve the new instrument and said that no court order would be required to approve ETH spot ETFs.

 

What will happen to the price of ETH?

If the situation with the rate repeats and it grows amid the hype, the cost of ETH could jump by 70% by May. In this case, the second cryptocurrency will trade at $4,000, Kendrick believes. 

Between BlackRock’s first application for the BTC spot ETF and January 10, the price of Bitcoin has risen cumulatively by 85%, from $17,000 to $47,000. Prior to the approval of the tool, Kendrick predicted that the value of BTC would rise to $100,000 by the end of this year. According to experts at The VR Soldier , Ethereum is now trading at $2,337. Over the past 24 hours, the rate has strengthened by 1.4%, and over the week – by 4.7%. The price of Bitcoin at the same time is $42,963. The first cryptocurrency, on the contrary, has dropped by 0.7% over the past 24 hours.

Tags: ETHETH spot ETFEthereum price predictionHester PierceSEC approval for Ethereum ETFStandard Chartered analysis
Previous Post

Bitcoin Options: $1B Expiry Fuels Market Anticipation

Next Post

Solana (SOL) DeFi Dominance In January, Price Analysis, and Potential

Related Posts

Cardano Tanks 50% From Highs—Hope or Hype Ahead
News

Cardano Tanks 50% From Highs—Hope or Hype Ahead

June 1, 2025
Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025
Bitcoin Shakes as Trump Talks Tariffs Again
Featured

Bitcoin Shakes as Trump Talks Tariffs Again

May 27, 2025

Press Releases

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?
News

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

by Alex Mercer
May 25, 2025

Introduction It seems the U.S. labor market has hit a pothole—again. The Kansas City Fed’s Labor Market Conditions Index (LMCI)...

Read more
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
Trump Meme Coins Spark Calls for Treasury Review

Trump Meme Coins Spark for Treasury Review

May 15, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier