• Standard Chartered predicts the SEC to approve spot Ether ETFs this week
• It estimates Ether ETF approval could attract $15 billion to $45 billion in inflows within the first 12 months
• The firm expresses 80-90% confidence in Ether ETF approval happening this week
Standard Chartered, a major financial organization, anticipates the United States Securities and Exchange Commission (SEC) to approve spot Ether exchange-traded funds (ETFs) by this week. The approval could result in significant inflows into the ether market.
Ether ETF Deadlines Approaching
The first wave of spot ether ETF deadlines is drawing near quickly, with VanEck‘s ETF filing deadline on May 23 and Ark Invest/21Shares deadline on May 24. Just one month after asserting that approval was doubtful by the May deadline, Standard Chartered has now changed its position on the likelihood of spot Ether ETF acceptance.
Standard Chartered Predicts Approval
Geoff Kendrick, Head of FX Research and Digital Assets Research at Standard Chartered Bank, expressed his 80% to 90% confidence that ether ETF approval will occur this week. Kendrick predicts that spot ETFs will induce inflows of 2.399 million ether, equivalent to between $15 billion and $45 billion in the first year.
Impact on Ether Price
Kendrick said ether ETF approval this week might result in ether increasing similarly to bitcoin, reaching roughly $8,000 by the end of the current cycle. Following the SEC’s request for exchanges to revise their 19b-4 filings before the May deadline, many analysts who were previously certain Ether ETFs would be denied have changed their stance.
Shifting Analyst Views
On May 14, Bloomberg ETF experts predicted a 75% chance of SEC approval after previously believing the approval process was at a standstill.
Conclusion
The potential SEC approval of spot ether ETFs this week could significantly impact ether prices and represents a shift in analyst views from previous pessimism to new optimism. The crypto community awaits the SEC’s decision, which could induce massive capital inflows into the ether market.
