Standard

Standard Chartered, a major financial organization, anticipates the United States Securities and Exchange Commission (SEC) to approve spot Ether exchange-traded funds (ETFs) by this week.&nbsp; 
The first wave of spot ether ETF deadlines is drawing near quickly, with VanEck’s ETF filing deadline on May 23 and Ark Invest/21Shares’ deadline on May 24. 
Just one month after <a href="https://www.cryptotimes.io/2024/04/25/standard-chartered-remains-bullish-on-crypto/" target="_blank" rel="noreferrer noopener">asserting that approval was doubtful</a> that the May approval deadline would be met, the financial behemoth has now modified its position on the likelihood of a spot Ether ETF acceptance.&nbsp; 
Geoff Kendrick, Head of FX Research and Digital Assets Research at Standard Chartered Bank, expressed his “80% to 90%” confidence that ether ETF approval will occur this week. 
Kendrick predicts that spot ETFs will induce inflows of 2.39–9.15 million ether, equivalent to between $15 billion and $45 billion, in the first year.&nbsp; 
Kendrick said, “As a percentage of market cap, it is similar to our estimates of inflows to bitcoin ETFs, which are proving accurate.” He added that based on Bitcoin price projections of $150,000, they anticipate Ether to increase similarly and reach roughly $8,000 by the end of the current cycle.&nbsp; 
Following the SEC’s request for exchanges to revise their 19b-4 filings before the May deadline, many market analysts who were previously certain that Ether ETF applications would be denied have changed their stance. 
On May 14, <a href="https://www.cryptotimes.io/2024/05/15/sec-likely-to-reject-spot-ethereum-etfs-bloomberg-analysts/" target="_blank" rel="noreferrer noopener">Bloomberg ETF experts</a> James Seyffart and Eric Balchunas believed that the US clearance process for Ethereum ETFs appears to be at a standstill. However, according to them, there is now a 75% <a href="https://x.com/JSeyff/status/1792636774067413502" target="_blank" rel="noreferrer noopener">possibility</a> that the SEC will approve the product. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/25/sec-likely-to-reject-ether-etfs-next-month-sources-report/" target="_blank" rel="noreferrer noopener">SEC Likely to Reject Ether ETFs Next Month, Sources Report</a> 
</blockquote>

Standard Chartered Predicts SEC to Approve Ether ETFs This Week

The Crypto Times

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