ETFs
Standard Chartered Anticipates SEC Approval of Spot Ethereum ETFs This Week
Standard Chartered Anticipates SEC Approval of Spot Ethereum ETFs This Week
Standard Chartered has expressed its expectation that the US Securities and Exchange Commission (SEC) will approve the spot Ethereum exchange-traded funds (ETFs) by May 24.
As the first round of deadlines for Ethereum spot 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 on by the May approval deadline as unlikely. Geoff Kendrick, head of FX and digital assets research at Standard Chartered, now says “80-90%” certainty that the SEC will approve spot Ether ETFs later this week.
Kendrick estimated that market inflows into Ethereum spot ETFs in their first year could amount to between 2.39 million and 9.15 million ETH, which equates to approximately $15 billion to $45 billion. These estimates match those of spot Bitcoin ETFs. Additionally, based on Bitcoin price predictions of $150,000, Kendrick expects Ether to follow a similar growth trajectory, reaching around $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 caused a change in the views of market experts who were previously convinced that Ethereum ETF applications would be rejected. Bloomberg ETF analyst Eric Balchunas, who previously assigned a 25% probability of approval, has now increased that probability to 75% as the final deadline approaches.