Standard Chartered: Ethereum (ETH) Spot ETF Approval Expected This Week
CryptoNewsTerminal Staff21 May, 2024
Standard Chartered: Ethereum (ETH) Spot ETF Approval Expected This Week
Standard Chartered (SC), a renowned financial institution headquartered in the United Kingdom, recently released a comprehensive report. In the report, SC's analysts predicted that the United States Securities and Exchange Commission (SEC) will approve an Ether (ETH) spot ETF this week. Upon approval, the price of ETH is anticipated to surge toward the $8,000 mark by year's end. SC's analysis suggests that following the SEC's approval, approximately $15-45 billion of funds could potentially flow into the market within the initial 12-month period. Furthermore, SC's analysts estimate that Bitcoin's price could climb to $150,000 by the end of 2023, while ETH's price could potentially rise to $14,000 by 2025. Eric Balchunas, an ETF expert and analyst at Bloomberg, shared his insights via Twitter, stating that "the SEC is looking to raise the probability of approving an Ethereum (ETH) spot ETF this month to 75%. I heard today that the SEC could do a complete 180 on this issue." Additionally, it is worth noting that Fidelity, a well-respected investment management firm, submitted an updated version of the Ethereum spot ETF S-1 (securities registration statement) to the SEC on the same day.
