Standard Chartered Bank expects the US Securities and Exchange Commission to approve an Ethereum ETF this week. The deadline for the first round of Ethereum spot ETFs is fast approaching, with application settlement taking place on May 23 for VanEck and May 24 for Ark Invest/21Shares. Geoff Kendrick, head of foreign exchange and digital assets research at Standard Chartered Bank, said that if the ETF is approved, 2.39-9.15 million ETH is expected to enter the market. market in the first 12 months, equivalent to about 15 billion USD to 45 billion USD. Kendrick said this would be similar to the inflow into the Bitcoin ETF. Additionally, if the Ethereum ETF is approved this week, Ethereum is expected to maintain price parity with Bitcoin and reach $8,000 by the end of 2024.
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