Ethereum, the second-largest cryptocurrency by market cap, is poised for significant growth, according to British multinational Standard Chartered. Analysts at the bank predict that Ethereum could reach $8,000 by the end of this year and potentially soar to $14,000 by 2025.
This optimistic forecast hinges on the approval of spot Ethereum exchange-traded funds (ETFs), which are currently under consideration by the Securities and Exchange Commission (SEC). These ETFs would allow traditional investors to gain exposure to Ethereum through shares traded on a stock exchange.
Geoffrey Kendrick, head of forex and crypto research at Standard Chartered, notes that Ethereum is currently experiencing a period of positive momentum, with its recent Dencun upgrade enhancing the network’s efficiency and potentially reducing transaction fees. This upgrade, combined with the anticipated regulatory approval of ETH ETFs, is expected to drive Ethereum’s price upward.
Standard Chartered also forecasts a bullish future for Bitcoin, suggesting that the cryptocurrency could reach $150,000 per coin by the end of this year. This prediction is supported by the popularity of newly approved Bitcoin ETFs, which have attracted significant investment inflows and contributed to the rise in Bitcoin’s price.
