According to a report by, both Bitcoin and Ethereum will reach new highs in the coming week. Standard Chartered projections. Financial services Company expects both assets to reach landmark prices as a result of impending approval for Spot Ethereum ETF.
SEC has decided to change its mind about Ether ETFs. This was a surprising move. The switch early on Tuesday surprised many who had anticipated rejection or delays. Bloomberg has increased the approval rate from 25% to 75%. Standard Chartered then believes this will boost the value of two major assets on the market.
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Bitcoin & Ethereum to Set New All-Time Highs This Week
Bitcoin was the first crypto-based ETF to be approved in the United States at the beginning of this year. Immediately afterward, everyone was looking to see what assets would be the next asset approved. The answer to that question is now clear, as the SEC will likely approve Ether’s version of the investment.
Arrival of Spot Ethereum ETF will have an impact on market. Standard Chartered Bank has predicted that Bitcoin and Ethereum would both reach record highs in the wake of its arrival.
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“I would expect a fresh all-time high in Bitcoin by the weekend, through the 14 March $73,798 level,” Geoff Kendrick’s, Standard Chartered Bank, Head of FX Research & Digital Asset Research told The Block. He also stated that this development confirms that BTC is expected to reach $150,000 before the end of year.
The bank also states that this product’s arrival will have a significant impact on ETH. It is expected that the response of Bitcoin to this investment vehicle will be similar. The asset’s value reached an all-time peak just three months after its issuance.
News of this kind will benefit all sectors, but the two top tokens are likely to lead the way. This news not only helps legitimize the whole industry but increases exposure for institutional investments. It should therefore lead to an overall market rally, similar to the one that took place in January.
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Source: watcher.guru
