According to BlockBeats, Geoffrey Kendrick, the head of foreign exchange and digital asset research at Standard Chartered Bank, has predicted that other cryptocurrency ETFs may receive approval by 2025. This comes after the recent approval of the Ethereum spot ETF. Kendrick suggests that the approval of the Ethereum ETF implies that the SEC does not view ETH and similar tokens as securities. He believes that it would be difficult for the SEC to declare them as securities, given that the core technology in many cases is very similar to ETH.
Kendrick anticipates that the dominance of Bitcoin and Ethereum will rise, particularly in terms of the Sharpe ratio. He reiterated that the Bitcoin spot ETF would bring a significant influx of funds, with the BTC price expected to reach $150,000 by the end of the year. He also predicts that the Ethereum ETF will bring in $15-45 billion in its first year of listing, with the ETH price expected to reach $8,000 by the end of the year.
