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Gate Square New & Returning Creator Rewards are ongoing!
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According to Geoffrey Kendrick, Director of Forex and Digital Asset Research at Standard Chartered Bank, after the recent approval of the Ethereum Spot ETF, other cryptocurrency ETFs may be approved by 2025. Kendrick pointed out that the approval of the Ethereum ETF implies that ETH and similar tokens are not considered securities by the SEC. He believes that it is difficult for the SEC to claim that they are securities, considering the similarity of their core technologies to ETH in multiple cases. Kendrick expects the dominance of Bitcoin and Ethereum to rise, especially in terms of the Sharpe ratio. He reiterated that a Bitcoin Spot ETF will bring in a large amount of capital inflow, and the price of BTC is expected to reach $150,000 by the end of the year. He also predicts that an Ethereum ETF will bring in $15-$45 billion of inflow in its first year of listing, and the price of ETH is expected to reach $8,000 by the end of the year. (TheBlock)