According to a report by The Block, Geoffrey Kendrick, Head of Foreign Exchange and Cryptocurrency Research at Standard Chartered Bank, believes that an Ethereum spot ETF could still be approved on May 23rd. This is mainly due to the fact that the U.S. Securities and Exchange Commission (SEC) has not classified ETH as a security in its legal proceedings against cryptocurrency companies. In addition, the London Stock Exchange is expected to accept applications for Exchange Traded Notes (ETNs) backed by BTC and ETH in the second quarter, which also increases the likelihood of SEC approval.
Standard Chartered: Ethereum Spot ETF Still Possible Approval in May, ETH Expected to Reach $8000 by Year-end.