Standard Chartered Predicts SEC to Approve Ether ETFs This Week

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As a seasoned crypto investor with a background in finance and market analysis, I’m keeping a close eye on the latest developments regarding spot Ether exchange-traded funds (ETFs) and their potential approval by the United States Securities and Exchange Commission (SEC).

Based on current expectations, it is predicted that the SEC will give its approval for the launch of spot Ethereum exchange-traded funds (ETFs) from Standard Chartered by the end of this week.

The approaching deadline for the initial offering of spot ethereum ETFs is forthcoming. VanEck’s ETF application must be submitted by May 23, while Ark Invest and 21Shares have until May 24.

I, as an analyst, previously expressed doubt just a month ago about the possibility of the May approval deadline being met for a Spot Ethereum Exchange-Traded Fund (ETF). However, the financial behemoth has since changed its stance on this matter and now holds a more optimistic view regarding the acceptance of such an ETF.

As the Head of FX Research and Digital Assets Research at Standard Chartered Bank, I’ve conducted extensive analysis on the potential approval of an ether Exchange-Traded Fund (ETF). Based on my research findings, I hold a strong belief that the likelihood of such approval lies between 80% and 90%.

Kendrick anticipates that exchange-traded funds (ETFs) focusing on specific spots will draw in approximately 2.39 to 9.15 million ethers, which translates to between $15 billion and $45 billion, during the initial year.

Kendrick stated, “In terms of market capitalization, it resembles our forecasted inflows into Bitcoin ETFs, which have proven reliable. He further projected that with a predicted price of $150,000 for Bitcoin, they expect Ether to grow comparably and reach approximately $8,000 by the end of this market cycle.”

In response to the SEC’s call for exchanges to make revisions to their 19b-4 filings by May, some market analysts who had originally anticipated denials for Ether ETF applications have now shifted their perspective.

According to Bloomberg ETF specialists James Seyffart and Eric Balchunas, the review process for Ethereum ETFs at the US Securities and Exchange Commission (SEC) seems to have stalled as of May 14. Nevertheless, they estimate that there is a 75% chance that the SEC will eventually give its approval for such a product.

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2024-05-21 18:45