British Multinational Bank: Ethereum Price to Surge Post SEC ETF Approval

Standard Chartered, a major British multinational bank, is projecting that the price of Ethereum (ETH) could surge to $4,000 upon approval of a spot Ethereum exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). However, skepticism surrounds this optimistic forecast in the cryptocurrency community. Scott Johnsson, a crypto analyst, argues that past precedents on crypto ETFs may not influence the SEC’s stance on Ethereum, and the regulator may require a longer period of market consistency. Additionally, there is ongoing debate over Ethereum’s classification as a security or commodity. Hester Peirce, a prominent crypto advocate within the SEC, suggests a nuanced evaluation process for Ethereum ETF applications. With Ethereum’s current price at $2,309.90, analysts are cautiously assessing market conditions, making the $4,000 projection appear ambitious.