Standard Chartered Lowers Ether Spot ETF Approval Timetable, Adjusts End-Of-Year Target

IconCrypto News Terminal23 Apr, 2024

cryptonews.jpg

Standard Chartered Lowers Ether Spot ETF Approval Timetable, Adjusts End-Of-Year Target

**Standard Chartered's Ethereum Spot ETF Approval Delayed, End-of-Year Target Adjusted** Standard Chartered has revised its timeline for the approval of its Ether Spot ETF, pushing back the expected launch date. The bank now anticipates approval by the end of the year, rather than the previously estimated May date. Despite the delay, Standard Chartered remains optimistic about the long-term prospects of Ethereum. The bank has maintained its end-of-year target price of $8,000 for ETH, citing its strong fundamentals and growing adoption. This news follows a series of setbacks for crypto ETFs in the United States. The SEC has yet to approve any spot Bitcoin or Ethereum ETFs, despite numerous applications from various providers. **Previously on 23rd April 2024**, Standard Chartered had initially expected the Ether Spot ETF to be approved in May.

Related News