Standard Chartered Bank: Ethereum ETF Expected to be Approved this Week, Anticipating $45 Billion Introduction

According to Standard Chartered Bank, it is expected that the U.S. Securities and Exchange Commission (SEC) will approve the Ethereum ETF this week, which is considered a significant development in the cryptocurrency market. The deadline for the first round of Ethereum ETF applications is approaching, with VanEck’s deadline on May 23rd and Ark Invest/21Shares on May 24th. Geoff Kendrick, Head of Foreign Exchange Research and Digital Asset Research at Standard Chartered Bank, expressed a high level of confidence, stating that he is “80% to 90%” certain that the Ethereum ETF will be approved this week. Kendrick estimates that after approval, the spot ETF will attract a capital inflow of 2.39 to 9.15 million Ether coins, equivalent to $15 billion to $45 billion, within the first 12 months. He also notes that this capital inflow estimate is similar to that of Bitcoin ETFs in terms of market value percentage, which has proven to be accurate. This prediction indicates the strong demand and potential impact of the Ethereum ETF in the market.