Here are the complete details of the upcoming Ethereum ETF event in 2024:
Event: Approval of Ethereum ETF (Exchange-Traded Fund)
Date: May 23-24, 2024 (upcoming deadlines for VanEck's and Ark Invest/21Shares' ETF applications)
Status: Pending approval by the US Securities and Exchange Commission (SEC)
Impact: Potential inflows of $15 billion to $45 billion into the Ethereum market, according to Standard Chartered Bank estimates.
Price Target: $8,000 by end-2024 and $14,000 by end-2025, as predicted by Standard Chartered Bank.
SEC Requests: Updated filings for spot Ether ETFs, indicating progress toward approval.
Analyst Predictions: 75% chance of approval, according to Bloomberg ETF analysts.
Important Note: Approval is not guaranteed, and the SEC may request additional updates or deny the applications.
Please keep in mind that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. These predictions and estimates are based on current market trends and analyst forecasts, but may not necessarily reflect future performance.