{"id":575988,"date":"2024-02-20T14:00:26","date_gmt":"2024-02-20T14:00:26","guid":{"rendered":"https:\/\/wncen.com\/?p=575988"},"modified":"2024-02-20T12:22:12","modified_gmt":"2024-02-20T12:22:12","slug":"ethereum-berstein-eth-price-10000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-berstein-eth-price-10000\/","title":{"rendered":"Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000"},"content":{"rendered":"
Global asset management firm, Bernstein has expressed confidence, foreseeing a fairly strong chance of the United States Securities and Exchange Commission (SEC) approving an <\/span>Ethereum Spot ETF.\u00a0\u00a0<\/span><\/a><\/p>\n In a February 19 research report, Bernstein analysts Gautam Chhugani and Mahika Sapra disclosed that Ethereum, the world\u2019s second-largest cryptocurrency, may be the only digital asset after Bitcoin, to win an ETF approval from the US SEC.\u00a0<\/span><\/p>\n Following the <\/span>approval of Spot Bitcoin ETF<\/span><\/a>, many crypto enthusiasts anticipated Ethereum as the next <\/span>in line for an ETF<\/span><\/a>. However, given the SEC\u2019s current stance on cryptocurrencies and its previous reluctant acceptance of Spot Bitcoin ETFs, the prospects of an Ethereum ETF have become <\/span>uncertain<\/span><\/a>.\u00a0<\/span><\/p>\n In the research report, Bernstein analysts predicted the approval timeline for an Ethereum Spot ETF. They emphasized that the presence of notable <\/span>traditional financial firms<\/span><\/a>, including Grayscale and <\/span>Franklin Templeton<\/span><\/a>, competing for a Spot Ethereum ETF, strengthens the outlook for its approval.\u00a0<\/span><\/p>\n \u201cWe think there is a roughly 50% chance of spot Ethereum ETF approval by May, with an almost certain chance of approval within the next 12 months,\u201d the Bernstein report read.\u00a0\u00a0<\/span><\/p>\n With the potential approval of Ethereum Spot ETFs, Ethereum may <\/span>witness a significant price increase<\/span><\/a> to levels as high as $10,000.\u00a0 <\/span>Prior to the SEC\u2019s approval of <\/span>Spot Bitcoin ETFs <\/span><\/a>on January 10, the anticipation surrounding the ETF had sparked a massive price rally for the cryptocurrency. Following the approval and ETF launch, <\/span>Bitcoin surged to over $45,000<\/span><\/a> before witnessing a subsequent price correction that pushed it back below $40,000.\u00a0<\/span><\/p>\n Despite the short correction, Bitcoin has been gaining back its momentum, and at the time of writing, the cryptocurrency is trading at $51,998, according to CoinMarketCap. This substantial price increase is largely attributed to the success of its ETF, providing investors with greater accessibility to <\/span>Bitcoin<\/span><\/a>, and contributing to the cryptocurrency\u2019s increased adoption.<\/span><\/p>\n A similar narrative could unfold for <\/span>Ethereum<\/span> following the approval of its ETF. With rising interest from institutional investors and the ETF driving global adoption, the cryptocurrency could potentially <\/span>attain new all-time highs above $10,000.\u00a0<\/span><\/a><\/p>\nSEC Ethereum Spot ETF Approval Imminent<\/h2>\n
Ethereum\u2019s Roadmap To $10,000<\/h2>\n