Ethereum ETFs Could Be Approved by May 23

Standard Chartered's report suggests a final deadline for the first wave of applications

According to a report by Standard Chartered, the long-awaited approval of Ethereum ETFs could finally be just around the corner. The report indicates that the deadline for the first wave of applications is May 23, 2023, and there are strong indicators that approval could be granted by then.

Surge in Ether ETH price due to positive regulatory developments

The news of the potential ETF approval has already had a positive impact on the price of Ether (ETH), which surged by 17% to over $3,600. This increase suggests that investors are optimistic about the potential for ETFs to provide a more accessible and regulated way to invest in Ethereum.

SEC chairman hints at last-second approval but no issuer is ready

While the SEC has not yet officially approved any Ethereum ETFs, Chairman Gary Gensler has hinted that an approval could come at the last minute. However, it's worth noting that no issuer has yet indicated they are ready to launch an ETF. Despite this, Bloomberg Intelligence analysts James Seyffart and Eric Balchunas believe the odds of approval for Ether ETFs have risen significantly, from 25% to 75%.