Bitcoin, Ethereum Will Hit All-Time Highs Amid ETH ETF Approval: Standard Chartered

Ethereum (ETH) exchange-traded funds will get approval from the Securities and Exchange Commission this week, Standard Chartered believes—and the prices of both ETH and Bitcoin (BTC) will rocket upwards as a result.

The British multinational bank’s digital assets researcher Geoff Kendrick wrote Tuesday that if the SEC approves ETH exchange-traded funds (ETFs) on Thursday, as expected, the price of the asset could rocket—and hit $8,000 by the end of the year. 

ETH is currently trading at $3,770, according to CoinGecko, having shot up 22% in 24 hours after rumors swirled yesterday that a spot Ethereum ETF could hit the U.S. market sooner rather than later. 

But the price of ETH isn’t the only thing that could benefit: Kendrick added that Bitcoin could face big upwards pressure, too. “The ETH news, if correct, comes at an opportune moment for BTC,” he said. 

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“An ETH ETF approval will further legitimize the sector and therefore be BTC-positive as well,” he continued, adding that he “would expect a fresh all-time high in BTC by the weekend.”

BTC’s price now stands at $70,314 per coin. It touched an all-time high of $73,737 in March, but had remained well below the $70,000 mark for much of the last month.

Ethereum ETF Applicants Ditch Staking Language in 'Temporary Concession' to SEC: Analyst

As the Securities and Exchange Commission (SEC) mulls applications for spot Ethereum ETFs—with analysts expecting approval as soon as this week—amended filings from several asset managers have dropped their language around staking. Staking refers to the process through which users delegate Ethereum tokens to the network in exchange for rewards. It became a core component of Ethereum’s security model with the network’s long-planned shift to a proof-of-stake consensus model in 2022. Fidelity dropp...

Ethereum is the network behind the second biggest digital asset, ETH. Many prominent asset managers have filed paperwork with the SEC to release a spot ETH ETF in the United States.

Such a fund would give everyday investors the ability to buy shares that trade on a stock exchange and track the price of ETH via brokerage accounts. VanEck, BlackRock, and Franklin Templeton are among the firms hoping to gain approval.

Ethereum Could Top $14,000 Next Year Alongside Bitcoin Boom: Standard Chartered

British multinational Standard Chartered isn’t just bullish on Bitcoin—Ethereum is also going to the moon, its analysts say. A Monday report from the bank claimed that the second-biggest digital asset could hit $8,000 by the end of this year, and $14,000 is possible by the time 2025 is up. If, that is, spot Ethereum exchange-traded funds (ETFs) get approved, Geoffrey Kendrick, head of forex and crypto research at the firm, said in the note.  The price of Ethereum is currently hovering slightly a...

The SEC reluctantly said yes to 11 BTC ETFs in January, and they've since received record inflows—pushing the price of BTC up as a result. 

But the regulator has been quiet on the process of approving the ETH ETFs, leading industry analysts in recent weeks to expect a delay on the process. That changed Monday, when analysts from Bloomberg said that they now expect imminent approval—a statement now echoed by Standard Chartered.

Standard Chartered predicted in April that BTC would hit $150,000 per coin this year, and that ETH could hit $8,000 this year and then $14,000 per coin by the end of 2025. 

The bank reiterated that claim in today’s report.

Edited by Andrew Hayward