Standard Chartered Bank has predicted that markets will anticipate the introduction of exchange-traded funds (ETFs) for cryptocurrencies other than bitcoin and ether, but expects this to be a development for 2025. The bank’s head of Digital Assets Research, Geoffrey Kendrick, believes that the US Securities and Exchange Commission’s (SEC) approval of spot ethereum ETFs implies that ether is not considered a security, and suggests that other coins similar to ether will also not be deemed securities. Kendrick anticipates that bitcoin and ether will continue to dominate, with other select cryptocurrencies following suit. Despite this, SEC Chair Gary Gensler has not directly addressed whether ether is classified as a security or a commodity, and the SEC reportedly investigated ether as a potential security last year. Kendrick expects trading of spot ether ETFs to commence next month and projects that these funds could attract inflows of $15 billion to $45 billion within the first year. He also maintains his forecast that ether will reach $8,000 by the end of this year. Kendrick has also commented on the US Congress approving several crypto bills, stating that the industry now appears to have political support from both sides. He has previously suggested that a second Trump administration would be generally positive for the industry due to a more favorable regulatory environment.
