Standard Chartered Anticipates SEC Approval of Spot Ethereum ETFs This Week
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Standard Chartered Anticipates SEC Approval of Spot Ethereum ETFs This Week

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3 weeks ago

Standard Chartered has expressed its expectation for the United States Securities and Exchange Commission (SEC) to approve spot Ethereum exchange-traded funds (ETFs) by May 24.

Standard Chartered Anticipates SEC Approval of Spot Ethereum ETFs This Week
Standard Chartered has expressed its expectation for the United States Securities and Exchange Commission (SEC) to approve spot Ethereum exchange-traded funds (ETFs) by May 24.
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As the first round of deadlines for spot Ethereum ETFs approaches, with the VanEck ETF filing deadline on May 23 followed by ARK Invest and 21Shares on May 24, Standard Chartered has changed its stance from previously considering the May approval deadline as unlikely. Geoff Kendrick, the head of FX and digital assets research at Standard Chartered, now asserts an "80% to 90%" certainty of the SEC approving spot Ether ETFs later this week.

Kendrick has estimated that market inflows into spot Ethereum ETFs within their first year could amount to 2.39 to 9.15 million ETH, equivalent to roughly $15 billion to $45 billion. These estimates align with those for spot Bitcoin ETFs. Additionally, based on Bitcoin price predictions of $150,000, Kendrick anticipates Ether to follow a similar growth trajectory, reaching approximately $8,000 by the end of this cycle.

The SEC's request for exchanges to update their 19b-4 filings before the May deadline has prompted a shift in the viewpoints of market experts who were previously convinced that Ethereum ETF applications would be rejected. Bloomberg ETF analyst Eric Balchunas, who previously assigned a 25% chance of approval, has now increased the likelihood to 75% as the final deadline approaches.

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