Standard Chartered Bank changes stance, now says SEC unlikely to approve Ethereum spot ETF in May

Odaily Odaily News Standard Chartered Bank, which was previously optimistic about Ethereum spot exchange-traded funds, has now changed its position and said that the U.S. Securities and Exchange Commission is unlikely to approve such funds in May. Geoffrey Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, wrote in a report on Tuesday: "We previously expected the SEC to approve the ETH ETF on May 23." He added: "This expectation is based on the view that the Ethereum approval process will be similar to the Bitcoin ETF approval process (the SEC approved the BTC ETF in January), and it is expected that there will be constructive dialogue between the SEC and ETF applicants, as was the case before the BTC ETF was approved. However, so far, no such dialogue has occurred (or at least not publicly), which suggests that the May 23 approval date is unlikely."