Spot Ethereum ETF Approval in May Unlikely, Says Standard Chartered

Standard Chartered revises its forecast, no longer expecting U.S. SEC approval for spot Ethereum ETFs in May amid a challenging regulatory and macroeconomic environment.

Standard Chartered has revised its earlier prediction, now stating that approval for spot Ethereum ETFs by the U.S. SEC in May is unlikely due to lack of constructive dialogue and recent regulatory actions.
Despite the setbacks, the bank maintains a positive long-term outlook, with end-of-year price targets of $150,000 for Bitcoin and $8,000 for Ether.
The bank notes significant market adjustments, including the largest daily liquidation of leveraged long positions in Bitcoin futures since October 2023, which removed $261 million from the market.
Geopolitical tensions and rising U.S. Treasury yields have contributed to a slowdown in Bitcoin spot ETF inflows, impacting the broader cryptocurrency market.
Standard Chartered remains optimistic about the future of digital assets, expecting positive structural drivers to eventually dominate despite current challenges.