{"id":10282,"date":"2024-01-31T10:32:06","date_gmt":"2024-01-31T08:32:06","guid":{"rendered":"https:\/\/forklog.com\/en\/standard-chartered-predicts-sec-approval-of-spot-ethereum-etf-in-may\/"},"modified":"2024-01-31T10:32:06","modified_gmt":"2024-01-31T08:32:06","slug":"standard-chartered-predicts-sec-approval-of-spot-ethereum-etf-in-may","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/standard-chartered-predicts-sec-approval-of-spot-ethereum-etf-in-may\/","title":{"rendered":"Standard Chartered Predicts SEC Approval of Spot Ethereum-ETF in May"},"content":{"rendered":"

The SEC<\/span> is expected to approve spot Ethereum-ETFs on May 23, by which time the price of the second-largest cryptocurrency by market capitalization could reach $4000, according to a forecast by Standard Chartered, reports The Block<\/a>.<\/p>\n

Analysts based their growth target on the situation with Bitcoin following the approval of a spot exchange-traded fund based on it. They noted that the regulator is likely to follow the same strategy with Ethereum.<\/p>\n

May 23 marks the first final deadline for decisions on applications for the launch of instruments from VanEck and Ark\/21Shares.<\/p>\n

Experts are betting on the approval of spot Ethereum-ETFs due to the absence of the second-largest cryptocurrency being classified as a security in SEC lawsuits. The listing of a regulated futures contract on the CME<\/span> adds weight to these expectations, they added.<\/p>\n

\n

\u201cGrayscale also has an ETH trust, which the company intends to convert into an ETF. A rejection of this application is likely to lead to another appeal. Therefore, we see no fundamental reasons for the SEC to treat Ethereum differently than CME already does,\u201d<\/em> the report states.<\/p>\n<\/blockquote>\n

Earlier this year, Standard Chartered estimated that inflows into a spot Bitcoin-ETF could reach $50-100 billion by the end of 2024, potentially driving the price of digital gold to $100,000 and doubling again in the following year, as reported by Forklog<\/a>.<\/p>\n

In the new report, experts described these targets as \u201cstill achievable.\u201d<\/p>\n

They noted the low susceptibility of the second-largest cryptocurrency to the negative dynamics of digital gold that followed the approval of the exchange-traded fund.<\/p>\n

\n

\u201cThe key reason for this is that the Grayscale Ethereum Trust has a smaller share of the total market capitalization of Ethereum than the GBTC<\/span> did before the approval of the Bitcoin-ETF. The impact of FTX sales is even lower,\u201d<\/em> they explained.<\/p>\n<\/blockquote>\n

Analysts also mentioned the upcoming Den\u0441un update as a potential driver.<\/p>\n

Experts anticipate the approval of \u201csimple\u201d spot Ethereum-ETFs on May 23, which do not account for staking rewards. They expect the registration of products with this option later.<\/p>\n

As reported by FOX Business, SEC staff may delve into the study of S-1 applications in the coming months, as they did with proposals for launching spot Bitcoin-ETFs. This would signal a positive decision in the future.<\/p>\n

Previously, BlackRock CEO Larry Fink stated<\/a> that he \u201csees value\u201d in a spot Ethereum fund, calling it a step towards tokenization.<\/p>\n","protected":false},"excerpt":{"rendered":"

The SEC is expected to approve spot Ethereum-ETFs on May 23, by which time the price of the second-largest cryptocurrency by market capitalization could reach $4000, according to a forecast by Standard Chartered, reports The Block. Analysts based their growth target on the situation with Bitcoin following the approval of a spot exchange-traded fund based […]<\/p>\n","protected":false},"author":1,"featured_media":10281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,46,1138,1347],"class_list":["post-10282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-ethereum","tag-opinions","tag-standard-chartered-plc"],"aioseo_notices":[],"amp_enabled":true,"views":"67","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=10282"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/10281"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=10282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=10282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=10282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}