The Defiant

Ether Rallies After Standard Chartered Predicts ETF Approval In May

Early numbers indicate GBTC outflows continue to abate.

By: yyctrader Loading...

Ether Rallies After Standard Chartered Predicts ETF Approval In May

Crypto markets continue to show signs of strength, with approximately 80% of the top 100 digital assets posting modest gains on the day.

Ether is up 2.5% after multinational bank Standard Chartered released a research note predicting SEC approval of a spot ETH ETF in May of this year.

ETH Price chart
ETH Price

"We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs," wrote Geoffrey Kendrick, head of Standard Chartered Bank's forex and digital assets research, as first reported by The Block.

Meanwhile, Bitcoin is flat on the day at $43,300 after gaining 3% yesterday.

AI tokens are having a good day, with Bittensor leading the pack, briefly surging 30% to an all-time high of $470. Decentralized GPU solution Render Network (RNDR) is up 12%.

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