Ethereum's Soaring Symphony: Hitting $4,000 in May, Fueled by Spot ETH ETF Anticipation!

Standard Chartered Bank predicts that Ethereum (ETH) could experience a significant price surge, potentially reaching $4,000 by May, driven by the expected approval of spot-based exchange-traded funds (ETFs) in the United States. The bank anticipates that the U.S. Securities and Exchange Commission (SEC) will treat spot ETH ETF applications similarly to Bitcoin ETFs, with May 23 as the provisional approval date. The report suggests that the market currently underestimates the likelihood of approval and sees no fundamental reason for the SEC to treat Ethereum differently from Bitcoin, especially considering the presence of ETH futures on the regulated Chicago Mercantile Exchange (CME). Standard Chartered expects ETH to outperform Bitcoin leading up to the expected approval date.