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## Standard Chartered Bank’s Anticipation of Ethereum ETF Approval

The Standard Chartered Bank has recently released a report predicting the approval of a spot Ethereum exchange-traded fund in May 2024. In the report, the bank foresees a potential bullish run for Ethereum, with an expected surge of 70% from its current price, reaching $4000 by May.

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The AI legalese decoder can assist in analyzing the regulations and legal requirements related to Ethereum ETF approval. It can quickly process and interpret legal documents and regulatory guidelines to provide insights into the likelihood of approval and how it may impact the market.

## Expected Approval By May

Standard Chartered’s research team, led by renowned analyst Geoff Kendrick, compares Ethereum’s trajectory to that of Bitcoin. The report speculates that the U.S. Securities and Exchange Commission may initially reject the issuer of the spot Ethereum ETF but eventually approve it. The bank tentatively sets the date for the delayed approval of the spot ETH ETF to be on May 23, emphasizing the need for more accurate market predictions.

The AI legalese decoder can analyze historical data, regulatory decisions, and market trends to provide a comprehensive understanding of the approval process for Ethereum ETFs. It can identify patterns and similarities with previous ETF approvals, assisting in making informed projections about the potential approval timeline.

## Contrary Views

In contrast, the TD CowenÔÇÖs Washington Research Group suggests that the delay in approving spot Ethereum ETFs is influenced by political pressure on SEC Chair Gary Gensler. The group predicts that spot Ethereum ETFs may not be approved until 2025-2026, attributing the delay to caution surrounding the approaching U.S. elections in November 2024.

The AI legalese decoder can analyze political and regulatory factors influencing the approval process for Ethereum ETFs. By examining public statements, political developments, and regulatory decisions, it can provide insights into the potential impact of political pressure on the approval timeline.

In conclusion, the market’s anticipations for the approval of Ethereum spot ETFs vary, but there is confidence that they will eventually be approved. The AI legalese decoder can analyze the diverse perspectives and market sentiments surrounding Ethereum ETF approval, assisting in understanding the overall landscape and potential outcomes.

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