Analysts at Standard Chartered had previously been optimistic about the U.S. Securities and Exchange Commission (SEC) approving Ethereum exchange-traded funds (ETFs) as early as May. However, they have now revised their forecast, stating that approval is unlikely to occur in the near future.
This delay is expected to have a significant impact on the price of Ethereum. The analysts at Stan Chart are now forecasting a price of $10,000 for Ethereum by the end of the year, down from their previous prediction of $20,000. The analysts also predict that Bitcoin will reach $150,000 by the end of the year.
As the SEC continues to deliberate on the approval of Ethereum ETFs, investors are advised to remain cautious. The price of Ethereum is likely to remain volatile in the short term, and it is possible that the price could decline further if the SEC delays approval or rejects the applications altogether.
