TechFlow news: Standard Chartered expects the U.S. Securities and Exchange Commission to approve Ethereum ETFs this week.
The first round of deadlines for spot Ethereum ETF applications is approaching, with VanEck's deadline on May 23 and Ark Invest/21Shares' deadline on May 24.
Geoff Kendrick, Head of Foreign Exchange Research and Digital Asset Research at Standard Chartered, said that if approved, the ETFs could bring 2.39 million to 9.15 million ETH into the market within the first 12 months, equivalent to approximately $15 billion to $45 billion.
Kendrick noted this inflow would be similar to that seen with Bitcoin ETFs, currently estimated at 25% to 75%.
Additionally, if Ethereum ETFs are approved this week, Ethereum is expected to maintain its price ratio relative to Bitcoin and could reach $8,000 by the end of 2024.
