With the SEC’s reversal of its position on the Ethereum spot ETF, the market’s expectation for the approval of the Ethereum spot ETF has dramatically increased. Various institutions and experts have also put forward their predictions for Ethereum.
Lyra Founder: 20% Chance of ETH Breaking $5,000 by the End of June
According to a report by CoinDesk, Nick Forster, the founder of decentralized options market Lyra and a former Wall Street options trader, pointed out that the data from the Lyra options market currently shows a 20% probability of ETH surpassing its previous all-time high of $4,692 and rising to $5,000 by the end of next month.
Bernstein: ETH Could Reach $6,600
Furthermore, analysts Gautam Chhugani and Mahika Sapra from research institution Bernstein predict that the approval of the Ethereum spot ETF will drive ETH up by 75% to $6,600.
Standard Chartered: Ethereum Could Break $8,000 by Year-End
Geoff Kendrick, the head of forex research and digital asset research at Standard Chartered, raised the probability of the SEC approving the Ethereum spot ETF to 80-90% on the 21st. He further predicted the inflow of funds that would follow the approval:
“After approval, we estimate that the Ethereum spot ETF will bring in a flow of 2.39 million to 9.15 million ETH in the first 12 months after approval… In terms of USD, this is equivalent to approximately $15 billion to $45 billion.”
Kendrick also predicted that by 2024, the price ratio between Ether and Bitcoin would remain at 5.4%. If BTC reaches $150,000 by the end of the year, the price of Ether could reach $8,000.
Nexo: ETH Could Reach $10,000 by Year-End
Andrey Stoychev, the Head of Brokerage at cryptocurrency lending platform Nexo, stated earlier this week that the launch of the ETF would be a significant catalyst for ETH and could potentially push it up to $10,000 by year-end.
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Zhu Su from Three Arrows: If Ethereum Spot ETF is Approved, ETH Could Reach $5,400, and Bitcoin Could Surge to $80,000