Standard Chartered Anticipates Spot Ethereum ETF Approval This Week

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Standard Chartered Bank anticipates the approval of Spot Ethereum ETFs by the United States Securities and Exchange Commission (US SEC) this week. According to reports, the bank head of FX Research and Digital Assets Research Geoff Kendrick estimates that Spot Ethereum ETFs will drive significant inflows of $15 billion to $45 billion within the first year.

Kendrick affirmed that this estimate parallels the inflow predictions made for Bitcoin ETFs, which have proven accurate.

Standard Chartered Predicts $8,000 Ethereum Price

Standard Chartered Bank analysts are optimistic about Ethereum’s (ETH) future, forecasting an increase in its price. The bank, which happens to be one of the most prominent financial institutions, envisions Ethereum’s value surging to $8,000 by the end of the year, attributing this projection to the platform’s expanding utility in blockchain-based smart contracts, gaming, and tokenization of conventional assets.

The analyst mentioned that Standard Chartered’s projected Bitcoin price of $200,000 at the close of 2025, would suggest an Ethereum price of $14,000 by the end of 2025.

Meanwhile, according to CoinMarketCap, Ethereum is trading at $3,775.96

Multiple Spot Ethereum ETF Applications are Pending

BlackRock, VanEck, ARK 21Shares, Fidelity Investment, Invesco Galaxy, Grayscale Investments, and Hashdex are some of the top asset management firms that are eyeing the approval of a spot Ether ETF in the United States.

It is crucial to note that the SEC will decide on VanEck’s application by May 23, ARK 21Shares by May 24, Hashdex by May 30, Grayscale by June 18, and Invesco by July 5. As reported earlier by TheCoinRise, the regulator delayed the spot Ether ETF application submitted by Fidelity by an extra 45 days, so it has sufficient time to consider the proposed rule change and the issues raised.

Fidelity and BlackRock’s applications must be decided by August 3 and August 7.

Spot Ether ETF Won’t Need a Lawsuit for Approval

Recall that the US SEC commissioner Hester “Crypto Mom” Pierce in an interview, said that asset management firms looking to provide spot Ether ETFs in the US would not need to sue the SEC, like in the case of a spot Bitcoin (BTC) ETF. Hester also referred to the lawsuit filed by digital asset management firm Grayscale in 2023 after its request to turn its flagship product, GBTC, into a spot the regulator turned down Bitcoin ETF.

“We should not need a court to tell us that our approach is ‘arbitrary and capricious’ to get it right.” Hester noted in the interview while adding: “That is not how we are going to do our approvals.”

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