Experts at the QCP Capital fund predict that Ethereum’s price will rise above $5,000 before the year ends. But this barrier will remain until the US Securities and Exchange Commission (SEC) greenlights applications for spot ETFs based on Ethereum.
In the wake of reports that the regulator might greenlight the creation of ETFs based on Ethereum, the price of the leading altcoin jumped more than 18% in just one day.
Simultaneously, experts also hinted at a less than ideal situation. The applications’ rejection, which is by no means certain, might cause Ethereum’s price to plummet below the psychologically significant $3,000 mark.
This week, Ethereum-based spot ETFs are expected to be approved, according to Standard Chartered (LON:STAN). In the first year, experts predict that these funds will receive $15-45 billion (2-9 million ETH) in capital. Here, the asset rate will rise to $8,000, with Bitcoin trading at $150,000, due to demand from funds.
The analysts at the bank have made a daring prediction: if market dynamics are positive, the price of Ethereum will reach $14,000 in 2025, and the rate of Bitcoin will rise to $200,000.