Standard Chartered: SEC Will Approve Spot Ethereum ETFs in May

According to Standard Chartered Bank, the Securities and Exchange Commission is anticipated to use the same approach as it did for approving Bitcoin exchange-traded funds for Ethereum ETFs, with initial rejections followed by eventual approval on the final deadline of May 23.

The bank’s head of forex and digital assets research, Geoffrey Kendrick, stated that they predict approval for ETH US spot ETFs by the deadline, which would result in a predicted rise in ETH price to $4,000.

The expected approval is based on the fact that the SEC has not classified ether as a security in legal actions against crypto companies and the regulated listing of ETH futures on the Chicago Mercantile Exchange.

Kendrick also noted that Grayscale has an ETH trust that they plan to turn into an ETF, making it likely that they would appeal any denial by the SEC.

Additionally, Kendrick stated that there is no reason for the SEC to view ETH differently than the CME already does.