With the reversal of the US Securities and Exchange Commission’s (SEC) stance on Ethereum spot ETF, the market’s expectation for the approval of Ethereum spot ETF has greatly increased. Various institutions and experts have also put forward their predictions for Ethereum.
Table of Contents:
Lyra Founder: 20% Chance of ETH Breaking $5,000 by the End of June
Bernstein: ETH Could Reach $6,600
Standard Chartered Bank: Ethereum Could Break $8,000 by the End of the Year
Nexo: ETH Could Reach $10,000 by the End of the Year
With the overnight reversal of the US Securities and Exchange Commission’s stance on Ethereum spot ETF, VanEck and Franklin’s Ethereum spot ETFs have been listed on the Depository Trust & Clearing Corporation (DTCC), sharply increasing the market’s expectation for the approval of Ethereum spot ETF.
Against this backdrop, Ethereum has been trading within a narrow range around $3,700 for the past three days, with both buyers and sellers in a delicate balance, closely watching the decision that the SEC will make later.
Although the SEC may only agree to 19b-4 (exchange rule change) this week, another important key, S-1 (registration statement), may require more time. However, major institutions and analysts are optimistic about the future performance of ETH.
Lyra Founder: 20% Chance of ETH Breaking $5,000 by the End of June
According to CoinDesk’s report yesterday, Nick Forster, founder of decentralized options market Lyra and former Wall Street options trader, pointed out that current data from the Lyra options market shows that there is a 20% chance that ETH will break its historical high of $4,692 and rise to $5,000 by the end of next month.
Bernstein: ETH Could Reach $6,600
In addition, analysts Gautam Chhugani and Mahika Sapra from research firm Bernstein predict that the approval of Ethereum spot ETF will drive ETH up by 75% to $6,600.
Standard Chartered Bank: Ethereum Could Break $8,000 by the End of the Year
Geoff Kendrick, Head of Foreign Exchange Research and Digital Asset Research at Standard Chartered Bank, raised the probability of SEC approving Ethereum spot ETF to 80% to 90% on the 21st, while also predicting the influx of funds that will come after approval:
“After approval, we estimate that Ethereum spot ETF will attract an inflow of 2.39 million to 9.15 million ETH in the first 12 months after approval… In terms of US dollars, this is equivalent to approximately $15 billion to $45 billion.”
Kendrick also predicts that by 2024, the price ratio between Ether and Bitcoin will remain at 5.4%. If BTC reaches $150,000 by the end of the year, the price of Ether could reach $8,000.
Nexo: ETH Could Reach $10,000 by the End of the Year
Andrey Stoychev, Head of Brokerage at cryptocurrency lending platform Nexo, stated earlier this week that the launch of ETFs will be an important catalyst for ETH and could push its price up to $10,000 by the end of the year.
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