{"id":12128,"date":"2024-05-21T18:02:28","date_gmt":"2024-05-21T18:02:28","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/ethereums-massive-surge-imminent-standard-chartered-predicts-etf-approval-and-8000-price-target\/"},"modified":"2024-05-21T18:05:39","modified_gmt":"2024-05-21T18:05:39","slug":"ethereums-price-surge-expected-as-standard-chartered-forecasts-etf-approval-and-8000-target","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/ethereums-price-surge-expected-as-standard-chartered-forecasts-etf-approval-and-8000-target\/","title":{"rendered":"Ethereum\u2019s Price Surge Expected as Standard Chartered Forecasts ETF Approval and $8,000 Target"},"content":{"rendered":"\n<p>Standard Chartered, a British multinational bank, predicts that Ethereum spot ETFs may be approved by the US Securities and Exchange Commission (SEC) soon, potentially leading to significant market inflows ranging from $15 billion to $45 billion in the first year. This influx of capital could drive Ethereum&#8217;s price towards $8,000 by the end of 2024.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Anticipated_Effects_of_Ethereum_ETF_Approval\"><\/span>Anticipated Effects of Ethereum ETF Approval<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The approaching deadlines for the first round of spot Ethereum ETFs by VanEck on May 23 and Ark Invest\/21Shares on May 24 have heightened expectations. Standard Chartered&#8217;s Head of FX Research and Digital Assets Research, Geoff Kendrick, expresses an 80% to 90% probability of ETF approval, estimating substantial inflows and potential price growth for Ethereum.<\/p>\n<p>If approved, Kendrick suggests that Ethereum could maintain its price ratio with Bitcoin, forecasted to reach $150,000 by the end of 2024, thus leading to an $8,000 valuation for Ethereum. Furthermore, with Bitcoin projected to hit $200,000 by the end of 2025, Ethereum&#8217;s price could rise to $14,000 during the same period.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bullish_Market_Sentiment_Amid_Growing_Odds_of_ETF_Approval\"><\/span>Bullish Market Sentiment Amid Growing Odds of ETF Approval<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Recent optimism surrounding Ethereum ETF approvals has seen the price of Ethereum surge over 20% in the past 24 hours, surpassing the $3,600 mark and boosting its market capitalization above $450 billion.<\/p>\n<p>Derivative markets like Deribit indicate strong bullish sentiment with concentrated bets on Ethereum calls exceeding $4,000 and a notable preference for a $5,000 strike price. Bloomberg analysts have increased the odds of spot ETH ETF approval to 75%, a significant jump from the previous estimation of 25%, suggesting a changing regulatory landscape.<\/p>\n<p>Speculation indicates that approval may occur as soon as Wednesday, potentially paving the way for further price gains in Ethereum, according to market experts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard Chartered, a British multinational bank, predicts that Ethereum spot ETFs may be approved by the US Securities and Exchange Commission (SEC) soon, potentially leading to significant market inflows ranging from $15 billion to $45 billion in the first year. This influx of capital could drive Ethereum&#8217;s price towards $8,000 by the end of 2024. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12129,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Ethereum\u2019s Price Surge Expected as Standard Chartered Forecasts ETF Approval and $8,000 Target - Bitrabo","description":"Standard Chartered, a British multinational bank, predicts that Ethereum spot ETFs may be approved by the US Securities and Exchange Commission (SEC) soon, pote"},"footnotes":""},"categories":[316],"tags":[1246,4270,1923,668,2044,1927,911,467,1488,539,904],"class_list":["post-12128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-approval","tag-chartered","tag-etf","tag-ethereums","tag-imminent","tag-massive","tag-predicts","tag-price","tag-standard","tag-surge","tag-target"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=12128"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/12129"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=12128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=12128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=12128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}