- Standard Chartered analyst Geoff Kendrick expressed confidence in the approval of Spot Ether ETFs this week and offered an ambitious target for the fund inflows.
- Kendrick predicts a significant influx of capital into the market, estimating $45 billion in the first year following the ETFs’ approval.
- “The potential approval of Spot Ether ETFs could be a game-changer for Ethereum, similar to earlier impacts seen with Bitcoin ETFs,” Kendrick noted.
This article discusses the potential approval of Spot Ether ETFs and their expected impact on the Ethereum market, as forecasted by Standard Chartered analyst Geoff Kendrick.
Spot Ether ETFs Expected to Gain SEC Approval
Geoff Kendrick, head of FX Research and Digital Assets at Standard Chartered, anticipates the U.S. Securities and Exchange Commission’s approval of Spot Ether ETFs, potentially leading to significant market inflows.
Financial Implications and Market Movements
The approval could translate into an influx of 2.39 to 9.15 million Ether, valued at approximately $15 to $45 billion. This forecast aligns with the upcoming deadlines for ETF applications, suggesting a pivotal moment for Ethereum’s market dynamics.
Conclusion
The approval of Spot Ether ETFs could mark a significant milestone for Ethereum, mirroring the transformative impact seen with Bitcoin ETFs. With substantial financial inflows projected, the Ethereum market may experience heightened activity and valuation increases.
