Standard Chartered Bank: With the prosperity of Bitcoin, Ethereum may break through $14,000 next year

Geoffrey Kendrick, the head of foreign exchange and cryptocurrency research at Standard Chartered Bank, stated in a report that if the Ethereum spot ETF is approved, Ethereum could reach $8,000 by the end of this year and possibly $14,000 by 2025. Geoffrey Kendrick said in his report that Ethereum is currently between two significant events which will drive up its price,

 

1. The Ethereum spot ETF is expected to be approved by the U.S. Securities and Exchange Commission this summer.

 

2. Upgrades to the Ethereum network and cost reductions make it more competitive.

 

In another research report, Standard Chartered Bank stated that if newly-approved ETFs continue to be popular, Bitcoin's price could reach $150,000 by the end of this year.