Standard Chartered Predicts Approval of Ethereum ETF by SEC in May
Standard Chartered expects the U.S. Securities and Exchange Commission (SEC) to approve spot ethereum exchange-traded funds (ETFs) in May, according to a note published by the bank. The bank’s analyst believes that the SEC’s approach to spot bitcoin ETFs will be mirrored in its approval of spot ethereum ETFs. The final date for the SEC to make a decision on the spot ethereum ETF applications from Vaneck and Ark 21shares is May 23. The analyst suggests that ethereum’s legal and financial situation is similar to that of bitcoin, indicating a positive outcome for spot ethereum ETFs.
Ethereum’s Price Could Reach $4,000, Says Standard Chartered Analyst
The head of crypto research at Standard Chartered predicts that ethereum’s price could rise to $4,000 by the May 23 approval date. This price target is based on the assumption that ethereum will follow a trajectory similar to bitcoin during its ETF approval process. Despite potential post-approval selloffs, the analyst believes that ethereum will be less vulnerable compared to bitcoin due to the size of existing trust funds holding ether. Standard Chartered recently stated that bitcoin could reach $200,000 in 2025.
Hot Take: Standard Chartered Predicts Approval of Ethereum ETF, Expects Rise in Price
Standard Chartered forecasts that the SEC will approve spot ethereum ETFs in May, similar to its approval of spot bitcoin ETFs. The analyst predicts a price increase for ether, with a target of $4,000 by the approval date. The bank believes that ethereum’s legal and financial standing aligns closely with that of bitcoin, indicating a positive outcome for spot ethereum ETFs. As the approval date approaches, market sentiment and implied volatility will play a role in determining the price movement. Standard Chartered expects ethereum to fare better than bitcoin in terms of post-approval selloffs due to differences in trust fund holdings.
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