{"id":31146,"date":"2024-05-22T06:29:28","date_gmt":"2024-05-22T06:29:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/standard-chartered-anticipates-imminent-sec-green-light-for-spot-ethereum-etfs\/"},"modified":"2024-05-22T06:29:28","modified_gmt":"2024-05-22T06:29:28","slug":"standard-chartered-anticipates-imminent-sec-green-light-for-spot-ethereum-etfs","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/standard-chartered-anticipates-imminent-sec-green-light-for-spot-ethereum-etfs\/","title":{"rendered":"Standard Chartered Anticipates Imminent SEC Green Light for Spot Ethereum ETFs"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The U.S. Securities and Exchange Commission (SEC) is under intense scrutiny from the financial community as it gets closer to important deadlines for making decisions about spot ether exchange-traded funds (ETFs). There has been a lot of interest in the proposals from Vaneck and Ark Invest\/21Shares, which are scheduled for assessment on May 23 and 24, respectively.<\/p>\n<p>Geoff Kendrick, Head of FX and Digital Assets Research at Standard Chartered, has significantly increased his confidence in the SEC\u2019s approval of spot Ethereum ETFs. According to The Block, Kendrick now feels \u201c80% to 90%\u201d sure that the approval will come this week. This marks a substantial shift from his April forecast, when he doubted the SEC would green-light these ETFs in May. Kendrick elaborated on the impact, stating, <em>\u201cAfter approval, we estimate that spot ETFs will drive inflows of 2.39-9.15 million ether in the first 12 months after approval \u2026 In U.S. dollar terms, that equates to roughly $15 billion to $45 billion.\u201d<\/em><\/p>\n<p>Kendrick also predicts ether will keep its price ratio of 5.4% compared to bitcoin throughout 2024. If <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a> hits $150,000 by year-end, ether could reach $8,000. <em>\u201cGiven that we now see bitcoin reaching the $150,000 level by end-2024, this would imply a level of $8,000 for ether,\u201d<\/em> he noted.<\/p>\n<p>The market\u2019s expectations are also shaped by larger trends and potential regulatory changes. The possible reelection of former President Donald Trump is viewed positively for the crypto sector. Many believe his administration would create a more favorable regulatory environment, encouraging further cryptocurrency adoption and price increases. Kendrick commented earlier this month, <em>\u201cWe think that a second Trump administration would be broadly positive via a more supportive regulatory environment.\u201d<\/em><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/standard-chartered-anticipates-imminent-sec-green-light-for-spot-ethereum-etfs\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The U.S. Securities and Exchange Commission (SEC) is under intense scrutiny from the financial community as it gets closer to important deadlines for making decisions about spot ether exchange-traded funds (ETFs). There has been a lot of interest in the proposals from Vaneck and Ark Invest\/21Shares, [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":31147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31146"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31146"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31147"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}