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<p><span style="font-weight: 400;">Standard Chartered Bank said it expects a spot Ethereum ETF to be approved on May 23, and that the ETH price might surge to $4,000 in the run-up to the decision.</span></p> 
<p>May 23 is the final deadline for the first of the ETFs (exchange-traded funds) under consideration by the Securities and Exchange Commission (SEC), said <span style="font-weight: 400;">Geoffrey Kendrick, head of forex and digital assets, in a Jan. 30 report.</span></p> 
<p><span style="font-weight: 400;">Kendrick expects the SEC to follow the same strategy it used in the approvals of spot Bitcoin ETFs</span><span style="font-weight: 400;">. In this scenario, the regulator will likely continue delaying decisions on spot Ethereum ETFs until their final deadlines. </span></p> 
<p><span style="font-weight: 400;">“We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs,” he said.</span></p> 
<p><img decoding="async" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/01/ethereum-etf-1.jpg" alt="Standard Chartered Shares Ethereum Spot ETFs Approval Date and ETH Price Forecast Before Approval - Bitcoin Sistemi"></p> 
<h2 id="span-style-font-weight-400-eth-could-surge-in-the-build-up-to-the-spot-ethereum-etf-approval-span"><span style="font-weight: 400;">ETH Could Surge In The Build Up To The Spot Ethereum ETF Approval</span></h2> 
<p><span style="font-weight: 400;">The analyst also said that </span><a href="https://insidebitcoins.com/news/spot-ethereum-etf-approval-may-be-delayed-until-2026-on-political-call-by-gary-gensler-td-cowen-says"><span style="font-weight: 400;">ETH</span></a><span style="font-weight: 400;"> could rise to as high as $4,000 if the “ETH prices perform similarly to how BTC prices performed in the lead-up to BTC ETF approval.”</span></p> 
<p><span style="font-weight: 400;">The SEC has not categorized Ethereum as a security, which forms the basis for Kendrick’s belief that a spot Ethereum ETF will soon receive approval. Adding support to the analyst’s prediction is the listing of ETH as a regulated futures contract on the Chicago Mercantile Exchange.</span></p> 
<p><span style="font-weight: 400;">The analyst added that the bank sees “no fundamental reason for the SEC to view ETH differently than the CME already does.”&nbsp;</span></p> 
<h2 id="span-style-font-weight-400-td-cowen-is-not-so-optimistic-span"><span style="font-weight: 400;">TD Cowen Is Not So Optimistic&nbsp;</span></h2> 
<p><span style="font-weight: 400;">Investment bank TD Cowen, on the other hand, says a spot Ethereum ETF may not be approved in the U.S. until late 2025 or early 2026.&nbsp;</span></p> 
<p><span style="font-weight: 400;">“We believe there is no upside for SEC Chair Gary Gensler to approve a spot Ethereum ETF given how upset progressive Democrats were over the agency’s approval of a spot bitcoin ETF earlier this month, ” said TD Cowen Washington Research Group analysts led by Jaret Seiberg, in a Jan. 29 note.</span></p> 
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Standard Chartered Bank Expects Spot Ethereum ETF Approval On May 23, Says ETH Might Soar To $4K

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