With the Bitcoin halving behind us, an agenda gap has emerged in the crypto sector. Although the cryptocurrency market moved bullishly in the vacuum, the news flow stagnated. Crypto experts suggested that after the halving, the trend may shift to spot Ethereum ETF.
According to experts, spot Ethereum ETFs are unlikely to be approved next month. Banking giant Standard Chartered also addressed this issue in a report. The bank's statements on approval drew attention.
Will spot Ethereum ETFs be approved?
In May, the SEC is expected to make a final decision on spot Ethereum ETF applications. Companies such as Grayscale and BlackRock are among the companies applying for spot Ethereum.
Banking institution Standard Chartered suggested in a report that the chances of spot Ethereum ETFs being approved in May are quite low.
The investment bank, which previously expected the SEC to approve spot Ether ETFs, changed its view this time. According to Standard Chartered, the SEC will not approve ETFs that provide access to Ether.
In a research report published on Tuesday, Standard Chartered said, "Bitcoin exchange-traded fund (ETF) inflows are in a period of stagnation. Ether ETFs, on the other hand, are unlikely to be approved in May as expected." In a report dated March 18, the bank said spot Ether ETFs would be approved on May 23.
On the other hand, the company reiterated that Bitcoin (BTC) will reach $150,000 and Ether (ETH) will rise to $8,000 by the end of the year. In this forecast, the banking institution suggested that negative news has been priced in and positive factors will come back into play.
