Ethereum ETFs Could Be Coming Soon

Standard Chartered: ETFs a Possibility

According to Standard Chartered, Ethereum exchange-traded funds (ETFs) could soon be a reality. The bank believes that the Securities and Exchange Commission (SEC) is likely to approve an ETF in the near future, which would allow investors to gain exposure to Ethereum without having to buy the underlying asset.

Market Odds of Approval Dwindling

However, the market odds of an ETF being approved in May are dwindling. According to data from PredictIt, the probability of an ETF being approved by the end of the month is now just 30%. This is down from a high of 60% in March. The decline in odds is likely due to the SEC's recent crackdown on cryptocurrency exchanges and ICOs.

PEPE Gains on Revised ETF Odds

Despite the declining odds of an ETF being approved in May, the price of PEPE, a cryptocurrency that tracks the performance of the proposed ETF, has gained more than 34% since the odds were revised. This suggests that some investors are still betting on an ETF being approved in the near future.

Conclusion

The possibility of an Ethereum ETF being approved in the near future is a major development for the cryptocurrency market. If approved, an ETF would make it much easier for investors to gain exposure to Ethereum, which could lead to a significant increase in the price of the cryptocurrency. However, the declining odds of approval in May suggest that investors should be cautious about investing in PEPE or other cryptocurrencies that are tied to the ETF.