TechFlow news, Standard Chartered expects the U.S. Securities and Exchange Commission (SEC) to approve spot Ethereum ETFs on May 23.
Geoffrey Kendrick, Head of Foreign Exchange at Standard Chartered, said: "We anticipate approval for the pending applications on May 23, which is the final deadline for the first group of ETFs under consideration—equivalent to January 10 for spot Bitcoin ETFs."
Kendrick's assessment primarily stems from the SEC not classifying Ethereum as a security in its legal actions against cryptocurrency firms, while ETH being listed as a regulated futures contract on the Chicago Mercantile Exchange further supports this expectation.
Kendrick also noted that Grayscale has an ETH trust it hopes to convert into an ETF, so rejection of the ETF application could prompt Grayscale to appeal again.
In addition, the bank forecasts that if ETH follows BTC’s pre-approval performance, it could reach a target of $4,000.
