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Geoffrey Kendrick of Standard Chartered Bank predicts the SEC’s approval of U.S. Ethereum ETFs by May 23. Starting with initial rejections before granting approval Standard Chartered Bank reversed its forecast, stating an Ethereum ETF approval is not likely in May due to a lack of constructive dialogue ETFs that hold Ethereum's ether (ETH) are unlikely to be approved in May, Standard Chartered said in a report. Rising macro risks have led to a slowdown in spot bitcoin Standard Chartered has projected that Ethereum (ETH) exchange-traded funds (ETFs) will be approved by the U.S. Securities and Exchange Commission (SEC) and The US Securities and Exchange Commission is likely to allow exchange-traded funds to hold the cryptocurrency Ethereum in May, Standard Chartered Plc. predicts. Standard Chartered recently reiterated its year-end bitcoin and ether targets of $150,000 and $8,000, respectively. The bank believes ether ETFs are unlikely to be Standard Chartered Bank, previously optimistic, has now changed its stance on spot Ethereum exchange-traded funds, saying the U.S. Securities and Exchange Cross-border banking giant Standard Chartered now doubts that the U.S. Securities and Exchange Commission (SEC) will approve spot Ethereum (ETH) exchange

Standard Chartered: Ethereum ETF Approval Not Likely in May

Recent reports indicate a shift in perspective regarding the potential approval of Ethereum ETFs in May, specifically from Standard Chartered Bank. While initial forecasts suggested a positive outcome, recent analysis paints a different picture. Geoffrey Kendrick of Standard Chartered Bank had previously predicted the SEC’s approval of U.S. Ethereum ETFs by May 23, aligning with earlier expectations that the US Securities and Exchange Commission would likely allow exchange-traded funds to hold the cryptocurrency Ethereum in May, as Standard Chartered Plc. predicts.

However, Standard Chartered Bank reversed its forecast, stating an Ethereum ETF approval is not likely in May due to a lack of constructive dialogue with the SEC. Cross-border banking giant Standard Chartered now doubts that the U.S. Securities and Exchange Commission (SEC) will approve spot Ethereum (ETH) exchange-traded funds (ETFs) anytime soon.

A report from Standard Chartered stated that ETFs that hold Ethereum's ether (ETH) are unlikely to be approved in May. Standard Chartered Bank, previously optimistic, has now changed its stance on spot Ethereum exchange-traded funds, saying the U.S. Securities and Exchange, making this decision.

This change in outlook contrasts with Standard Chartered's earlier projections. Standard Chartered has projected that Ethereum (ETH) exchange-traded funds (ETFs) will be approved by the U.S. Securities and Exchange Commission (SEC). The bank believes ether ETFs are unlikely to.

It's important to note that Standard Chartered recently reiterated its year-end bitcoin and ether targets of $150,000 and $8,000, respectively, demonstrating their continued belief in the long-term potential of both cryptocurrencies. Rising macro risks have led to a slowdown in spot bitcoin , but the delay is not a reflection on the future of ether.

In summary, despite previous optimism and recent Bitcoin and Ether targets, the immediate prospect of an Ethereum ETF approval in May seems increasingly unlikely, according to Standard Chartered's latest assessment. Starting with initial rejections before granting approval, it seems that the approval will take longer than intially anticipated.

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