EddieJayonCrypto
31 Jan 24
Standard Chartered Bank has made a positive prediction that the SEC will approve a spot Ethereum ETF by May, following a similar pattern to the approval of the spot Bitcoin ETF. The bank anticipates the SEC decision on May 23 and believes that Ethereum Trust will not have the same market impact as B...
Standard Chartered Bank has made a positive prediction that the SEC will approve a spot Ethereum ETF by May, following a similar pattern to the approval of the spot Bitcoin ETF. The bank anticipates the SEC decision on May 23 and believes that Ethereum Trust will not have the same market impact as Bitcoin Trust. The bank also predicts that the price of Ethereum will hit $4,000 before the approval date and that the approval process for the Ethereum ETF will be similar to that of the spot Bitcoin ETF in 2023.
In a recent report, Standard Chartered Bank anticipates that the US SEC will utilize the entire deadline, making a decision on May 23. The major bank foresees approval for the spot Ethereum ETF, mirroring the SEC’s previous decision on a spot Bitcoin ETF. Geoff Kendrick, the head of FX Research, West, and Digital Assets Research at Standard Chartered, also touched on the recent speculation caused by the large sell-off in Grayscale Bitcoin Trust (GBTC) following its conversion to a spot Bitcoin ETF.
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