Odaily News Standard Chartered Bank expects the U.S. Securities and Exchange Commission to approve an Ethereum ETF this week. The application resolution deadline for the first round of Ethereum spot ETFs is approaching, with VanEck's application resolution deadline being May 23 and ARK Invest/21Shares' deadline being May 24. Geoff Kendrick, head of foreign exchange research and digital asset research at Standard Chartered Bank, said that if the Ethereum spot ETF is approved, it is expected that there will be an inflow of 2.39 million to 9.15 million ETH in the first 12 months, equivalent to about $15 billion to $45 billion in U.S. dollars. Kendrick said: "In terms of market capitalization, this is similar to our estimates of fund inflows for Bitcoin ETFs, and these estimates are proving to be accurate." In addition, if the Ethereum ETF is approved this week, it is expected that Ethereum will maintain its price exchange rate with Bitcoin and Ethereum will reach $8,000 by the end of 2024. Kendrick said: "Given that we now expect Bitcoin to reach the $150,000 level by the end of 2024, this will mean that the price of Ethereum will reach $8,000." (The Block)