Standard Chartered Expected to Approve Spot Ethereum ETF This Week, Reiterates $8,000 Target
Standard Chartered expects the SEC to approve spot Ethereum ETFs this week, predicting significant capital inflows of $15 billion to $45 billion in the first year.
The bank's Head of Digital Assets and FX Research, Geoff Kendrick, believes there is an 80% to 90% chance of approval, which could push ETH price to $8,000 by the end of 2024.Time The Ethereum spot ETF's first trading deadline is fast approaching, with VanEck on May 23 and Ark Invest on May 24. In a broad market consensus shift, Bloomberg ETF analysts , Eric Balchunas and James Seyffart significantly increased the spot Ethereum ETF approval rate from 25% to 75% yesterday amid a 180 signal from the SEC – as crypto increasingly becomes a mainstream issue treat .
