Standard Chartered Bullish on Ethereum
Standard Chartered analysts stated that Ethereum ETF staking will likely push ETH price above $14,000 by the end of the year. These assets can yield additional returns if staked by allocating a portion of ETH to validators to safeguard the blockchain network and compensate them with extra tokens.
Fidelity has applied to the SEC for permission to implement a staking provision for its Ethereum [ETH] ETF product through the CBOE exchange.
There is more optimism about potential staking features in the U.S. S ETFs after Grayscale and 21Shares applied similarly in February. The products introduced last summer have roughly $7 billion in net assets held in custody accounts.
Ethereum’s price stayed mildly bullish amid bearish sentiment affecting the overall cryptocurrency market, trading at about $1,900 during Thursday’s London trading session.
Expectations regarding the possible approval of staking within the US spot Ethereum ETF may help the leading altcoin recover from its recent poor performance.
According to Bitwise, a similar filing in the largest economy in the world would boost investor returns. Matt Hougan, Bitwise chief, recently told Bloomberg that ETPs ought to stake. We have observed that staking ETPs can improve network security and investor returns.
Etherealize founder Vivek Raman highlighted that the adoption of ETH ETFs was “dampened” by the absence of staking. The executive claims that ETH ETF staking “can open up more money, it can open up a differentiated narrative around Ethereum.”.
Ethereum’s next technical upgrade, Pectra, which will add multiple UX improvement features to its blockchain, is drawing closer.
The mainnet upgrade will signal a change in ETH’s price trajectory, which has significantly underperformed compared to Bitcoin and Solana.
Such technological advancement might be the catalyst ETH needs to gain some traction and win back the support of market players.
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