NEW: Standard Chartered Predicts ETH Surge to $4,000 by May with Expected U.S. Approval for Spot ETH ETFs

Standard Chartered Bank anticipates a substantial uptrend for Ether (ETH), projecting a potential 70% surge to $4,000 by May. The bank’s analysts, led by Geoff Kendrick, foresee a regulatory green light for spot-based exchange-traded funds (ETFs) in the U.S., drawing parallels with the SEC’s past approach to Bitcoin. The anticipated approval date is May 23, coinciding with final deadlines for applications from asset managers VanEck and Ark/21Shares. While the market currently undervalues the likelihood of approval, the report emphasizes the absence of fundamental reasons for the SEC to treat ETH differently than Bitcoin. Standard Chartered suggests that, leading up to the expected approval, ETH prices may either align with or outperform Bitcoin, akin to BTC’s 85% surge during the approval of spot ETFs on January 10. The report also notes that ETH, if approved, could face less selling pressure than BTC post-ETF approval. This expectation is based on the smaller market share of Grayscale Ethereum Fund (ETHE) compared to Grayscale Bitcoin Fund (GBTC), with fewer shares held by the FTX bankruptcy estate.


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