2024-05-24 11:56:22

Odaily Planet Daily News According to Geoffrey Kendrick, Head of Foreign Exchange 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 given the similarity of core technology to ETH in multiple cases, it is difficult for the SEC to claim that they are securities. Kendrick expects that the dominant position of Bitcoin and Ethereum will rise, especially in terms of the Sharpe ratio. He reiterated that the Bitcoin Spot ETF will bring a large influx of funds, and the price of BTC is expected to reach $150,000 by the end of the year. He also predicts that the Ethereum ETF will bring in $15-45 billion in the first year of listing, and the price of ETH is expected to reach $8,000 by the end of the year. (TheBlock)

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