Highs Amid ETH ETF Approval: Standard Chartered

Ethereum ETFs could get the green light this week, says Standard Chartered—and both Bitcoin and Ethereum will set new high prices as a result.Ethereum (ETH) exchange-traded funds will get approval from the Securities and Exchange Commission this week, Standard Chartered believes—and the prices of both ETH and Bitcoin (BTC) will rocket upwards as a result.The British multinational bank’s digital assets researcher Geoff Kendrick wrote Tuesday that if the SEC approves ETH exchange-traded funds (ETFs) on Thursday, as expected, the price of the asset could rocket—and hit $8,000 by the end of the year.

ETH is currently trading at $3,770, according to CoinGecko, having shot up 22% in 24 hours after rumors swirled yesterday that a spot Ethereum ETF could hit the U.S. market sooner rather than later.

But the price of ETH isn’t the only thing that could benefit: Kendrick added that Bitcoin could face big upwards pressure, too. “The ETH news, if correct, comes at an opportune moment for BTC,” he said.