Standard Chartered Shares Whether Ethereum ETFs Will Be Approved in May and Bitcoin and ETH Price Forecast
Standard Chartered, a leading investment bank, said US regulators are unlikely to approve spot ETFs that give investors access to Ethereum (ETH) in May. This came as a surprise, as the bank had previously expected the Securities and Exchange Commission (SEC) to approve it during this period. The approval of spot Bitcoin (BTC) ETFs in January sparked a significant rally in the worlds largest cryptocurrency. Despite the changing landscape for an ETH ETF, Standard Chartered maintains its non-bearish stance. In a research report published today, the bank stated that the market is in a good position for recovery despite the negativities that digital assets have faced recently. “Inflows into Bitcoin ETFs have stalled and ETH ETFs are unlikely to be approved in May as expected,” analyst Geoff Kendrick wrote. Kendrick had previously predicted that ETH spot ETFs would likely gain approval on May 23, according to a March 18 report. The US Securities and Exchange Commission (SEC) recently targeted decentralized finance (DeFi) by suing Uniswap. Other factors contributing to the markets volatility include the increase in the yield of US Treasury bonds, the postponement of interest rate cuts by the FED, and the impact of escalating conflicts in the Middle East on BTC