Spot Ethereum ETFs Await Approval

Following negative comments by SEC based on Eleanor Terrett’s spot Ethereum ETFs, an important comment came from Standard Chartered. The bank official stated that despite skeptical approaches, spot Ethereum ETFs could receive approval by May 23. Geoffrey Kendrick had previously indicated that he expected approval in May and considered it a positive step that SEC did not classify ETH as a security. Positive Expectations Continue The announcement that the London Stock Exchange would accept applications for BTC and ETH-backed exchange-traded products in the second quarter strengthens the possibility of SEC approval, according to Kendrick. However, most market followers seem to have lost their beliefs in SEC’s approval. Bloomberg ETF Analyst Eric Balchunas lowered his expectation of spot Ethereum ETFs being approved in May from 70% to 30%. Ethereum ETFs Could Impact the Market Kendrick predicts that in the event of approval, a significant amount of ETH volume is expected to […]

Spot Ethereum ETFs Await Approval

Following negative comments by SEC based on Eleanor Terrett’s spot Ethereum ETFs, an important comment came from Standard Chartered. The bank official stated that despite skeptical approaches, spot Ethereum ETFs could receive approval by May 23. Geoffrey Kendrick had previously indicated that he expected approval in May and considered it a positive step that SEC did not classify ETH as a security.

Positive Expectations Continue

The announcement that the London Stock Exchange would accept applications for BTC and ETH-backed exchange-traded products in the second quarter strengthens the possibility of SEC approval, according to Kendrick. However, most market followers seem to have lost their beliefs in SEC’s approval. Bloomberg ETF Analyst Eric Balchunas lowered his expectation of spot Ethereum ETFs being approved in May from 70% to 30%.

Ethereum ETFs Could Impact the Market

Kendrick predicts that in the event of approval, a significant amount of ETH volume is expected to enter the market, based on the observed BTC ETF model. Entry of 2.39-9.15 million ETH is expected in the first 12 months, which corresponds to about 15-45 billion dollars.

In the event of approval, Kendrick predicts that the price of ETH could rise to 8,000 dollars and could reach 14,000 dollars by the end of 2025. These predictions parallel Standard Chartered’s predictions that BTC will reach $150,000 at the end of 2024 and $200,000 at the end of 2025.

The report states that the estimated crypto entries were similar as a percentage of circulating coins. Kendrick finds it reasonable that entry predictions for ETH are in wide ranges due to its higher volatility.

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