Standard Chartered sees an Ether ETF approval this week, sticks with year-end target of $8,000

With deadlines for spot ether exchange traded funds (ETF) fast approaching, Standard Chartered expects the U.S. Securities and Exchange Commission (SEC) to approve ether ETFs this week.

According to Standard Chartered Bank Head of FX Research and Digital Assets Research Geoff Kendrick, there is “80% to 90%” chance that ether ETFs will be approved this week.

After the approval, Ether will see an influx of “roughly $15 billion to $45 billion in the first 12 months after,” Kendrick added.

Kendrick also reiterated the end-2024 target of $8,000 for ether and $14,000 by the end of 2025.

On Monday, the SEC requested updates to 19b-4 filings for spot ether ETFs ahead of this week’s deadlines, indicating potential progress toward approval.

Ether’s price increased by over 19% in the past 24 hours.

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