Spot Ethereum ETF Approval Expected May 23rd, Report

A recent report and opinions hinted at the approval of spot Ethereum exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC).

They had excitement brewing as this new report hints at the possibility of approval soonest.

Experts at Standard Chartered Bank and other financial firms are eyeing May 23rd as a key date, with hopes for a big jump in Ethereum’s price.

What Standard Chartered Bank Says

Standard Chartered Bank, a big financial player, feels positive about spot Ethereum ETFs. Geoff Kendrick, who leads their research on forex and digital assets, shares his optimism:

“We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration—the equivalent date to Jan. 10 for BTC ETFs.”

Kendrick compares Ethereum to Bitcoin and thinks Ethereum could follow a similar path to approval by the SEC.

He mentions Ethereum’s changing rules and how it aligns with other types of investments as reasons why the SEC might give it the thumbs up.

Kendrick is consistently optimistic about crypto. He believes that spot Bitcoin ETFs will attract significant inflows, potentially reaching $50–100 billion this year.

This optimism extends to price trends, with Kendrick suggesting that Bitcoin could rise to $100,000 by the end of the year and $200,000 by the end of 2025.

Despite a temporary decline in Bitcoin’s price after the approval of spot Bitcoin ETFs, Kendrick remains confident in its long-term prospects, stating that the $100,000 price prediction “still looks achievable.”

Other Opinions and Feelings in the Market

But not everyone is convinced. Some experts at a New York investment bank, TD Cowen, say we shouldn’t get too carried away. They worry about politics and rules holding things back.

Still, overall, people are cautiously hopeful. They’ve seen how the recent okay for Bitcoin ETFs made a splash, and they think Ethereum could be next.

As we get closer to the SEC’s decision day, everyone is on the edge of their seats. Investors, experts, and fans of Ethereum are all waiting to see what happens. No matter what, Ethereum’s future looks like it will be full of twists and turns.

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