Although the U.S. Securities and Exchange Commission (SEC) has temporarily delayed clearance for spot Ether ETFs, Standard Chartered bank maintains a positive outlook on the cryptocurrencycurrency sector.
The bank’s initial projection indicated that clearance would occur in May. Nevertheless, analyst Geoff Kendrick has brought attention to possible obstacles such as the ongoing Uniswap legal case and the increasing Treasury yields, which are causing a delay in the clearance process.
One prediction market called Polymarket made forecasts suggesting that the possibilities of spot Ether ETFs being approved by next month were only running about 14%.
Standard Chartered remains upbeat and considers the recent market crisis as a transitory setback that will be gone soon. It supports its end-of-the-year price estimates of $150,000 for Bitcoin and $8,000 for Ethereum, with Ethereum being expected to touch $14,000 by 2025.
Read also: Standard Chartered Bank Sets Bitcoin Target at $150,000
