Standard Chartered: Ethereum Spot ETF Still Possible to be Approved in May, ETH Expected to Hit $8000 by the End of the Year

According to a report by The Block, Geoffrey Kendrick, the Head of Foreign Exchange and Cryptocurrency Research at Standard Chartered, believes that the Ethereum spot ETF could still be approved on May 23rd. This is mainly because the U.S. Securities and Exchange Commission (SEC) did not classify ETH as a security in its legal proceedings against cryptocurrency companies. Additionally, the London Stock Exchange is expected to accept applications for exchange-traded notes (ETNs) supported by BTC and ETH in the second quarter, further increasing the likelihood of SEC approval.