Exchange-traded funds (ETFs) giving investors exposure to Ethereum (ETH) will be approved in May, British multinational bank Standard Chartered has projected. 

In a Tuesday report, the bank said that it was likely that the U.S. Securities and Exchange Commission would give spot ETH ETFs the green light by the final deadline of May 23. 

And when the funds start trading, Standard Chartered expects the value of ETH will go as high as $4,000. ETH is currently priced at $2,372, according to CoinGecko, and hit an all-time high of $4,878 in November 2021. 

A number of high-profile firms including Wall Street titan BlackRock have proposed their own spot ETH ETFs. Such ETFs—sought in earnest now that Bitcoin spot ETFs are available in the U.S.—would allow investors to gain exposure to the second-biggest digital asset without the need to buy and store it themselves. 

Standard Chartered said that the investment vehicles were likely to get the approval stamp from the regulator because the SEC has not said ETH is a security. Meanwhile, the SEC has Go to Source to See Full Article
Author: Mathew Di Salvo

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