Ethereum

DeFi

Standard

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/standard-chartered-revises-expectations-on-ethereum-etf-approval-timeline" rel="noopener noreferrer nofollow">Standard Chartered Revises Expectations on Ethereum ETF Approval Timeline</a><br></p>
<p style="text-align: justify">Previously confident in the timely approval of Ethereum-based Exchange Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC), Standard Chartered now forecasts a delay. Initially, the investment banking giant had projected a green light for these ETFs as soon as May. However, recent developments and regulatory hesitations suggest a different outcome.</p>
<h2 id="changing-signals-in-cryptocurrency-markets">Changing Signals in Cryptocurrency Markets</h2>
<p style="text-align: justify">Earlier this year, the approval of <a href="https://en.bitcoinhaber.net/el-salvador-to-launch-volcano-bonds-in-early-2024" rel="noopener noreferrer nofollow">Bitcoin</a> spot ETFs sparked significant market enthusiasm, bolstering Bitcoin’s price significantly. Unlike Bitcoin, <a href="https://en.bitcoinhaber.net/ethereums-path-to-2500-key-factors-driving-the-anticipated-surge" rel="noopener noreferrer nofollow">Ethereum</a>‘s anticipated ETF approval has encountered roadblocks, dampening expectations for a similar rally. Standard Chartered’s latest report reflects a shift from earlier optimism to a more cautious stance, noting that the approval might not occur as early as anticipated.</p>
<p style="text-align: justify">Despite recent setbacks in the <a href="https://en.bitcoinhaber.net/the-fast-developments-in-the-crypto-world-and-the-strategic-moves-of-big-players" rel="noopener noreferrer nofollow">cryptocurrency</a> market, Standard Chartered’s analysts believe the market may have already bottomed out, suggesting potential for recovery. This outlook comes after a turbulent period marked by regulatory actions against major DeFi platforms and geopolitical tensions impacting broader financial markets.</p>
<h2 id="insights-on-sec-s-stance-and-market-impact">Insights on SEC’s Stance and Market Impact</h2>
<p style="text-align: justify">Geoff Kendrick from Standard Chartered highlighted several factors contributing to the delayed ETF approvals. Among these were increased scrutiny by the SEC, especially in the DeFi sector, and external economic pressures such as rising US Treasury yields. Kendrick had previously marked May 23 as the likely approval date, but this has since been pushed back indefinitely.</p>
<h3 id="points-to-take-into-account">Points to Take into Account</h3>
<ul>
 <li>ETF approval delays are often linked to broader regulatory and economic issues.</li>
 <li>Market reactions to ETF news can significantly impact cryptocurrency prices.</li>
 <li>Investor sentiment can be swayed by both regulatory news and global economic events.</li>
</ul>
<p style="text-align: justify">Despite the delay, the market has absorbed much of the negative news, with Ethereum prices remaining stable. Standard Chartered still sees significant growth potential by year’s end, predicting a target price for Bitcoin at $150,000 and Ethereum at $8,000. These projections hinge on favorable market conditions and regulatory environments evolving to support cryptocurrency growth.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/standard-chartered-revises-expectations-on-ethereum-etf-approval-timeline" rel="noopener noreferrer nofollow">Standard Chartered Revises Expectations on Ethereum ETF Approval Timeline</a></h5>

Standard Chartered Revises Expectations on Ethereum ETF Approval Timeline

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