Odaily Planet Daily News Standard Chartered Bank expects the U.S. Securities and Exchange Commission to approve the Ethereum ETF this week. The deadline for the first round of spot Ethereum ETFs is approaching, with VanEck's application resolution deadline on May 23 and Ark Invest/21Shares' deadline on May 24. Geoff Kendrick, head of foreign exchange research and digital asset research at Standard Chartered Bank, said that if the ETF is approved, it is expected that 2.39-9.15 million ETH will enter the market in the first 12 months, equivalent to approximately US$15 billion to US$45 billion. Kendrick said this would be similar to the inflow of funds into the Bitcoin ETF. In addition, if the Ethereum ETF is approved this week, Ethereum is expected to maintain its price exchange rate with Bitcoin and reach US$8,000 by the end of 2024. (The Block)
