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Ethereum ETH had a strong August in terms of value growth, with the cryptocurrency up 17.5% in the past month. The growth is headlined by solid Ethereum ETF inflows. The ETFs are on track to register over $4 billion in net inflows for August with just one trading day to go. The Ethereum ETFs’ recent outperformance began in earnest on July 17, coinciding with a surge in the price of ETH, which swiftly saw the second-largest cryptocurrency move from a year-to-date loss against BTC to a gain of 13.8% as of Friday. The Ethereum cryptocurrency is quickly becoming one of Wall Street’s new favorite assets, with institutional interest skyrocketing this summer. The token has become the center of mainstream crypto transactions, inviting a huge influx and institutional demand at the moment. VanEck founder Jan van Eck has been positioning the Ethereum token as the industry standard during his recent Fox Business appearance as well. The VanEck executive outlined why Ethereum institutiona...

Geoffrey Kendrick of Standard Chartered Bank predicts the SEC’s approval of U.S. Ethereum ETFs by May 23. Starting with initial rejections before granting approval , Standard Chartered foresees parallels for the Ethereum ETF with the SEC’s approach to Bitcoin ETFs. Geoffrey Kendrick, who leads the bank’s forex and digital assets research, believes Ethereum ETFs in the U.S. will get the green light in late May. Kendrick compares this situation to what happened with Bitcoin ETFs and thinks Ethereum’s price (ETH) may reach $4,000 by that date due to hype. Kendrick’s confidence comes from the fact that the SEC hasn’t treated Ether as a security in its legal actions. Ether is already being traded as a future on the Chicago Mercantile Exchange. “Grayscale, which has an Ethereum trust, wants to convert it into an ETF. If they get denied, they will likely appeal,” he said, adding that there’s no reason for the SEC to treat Ethereum di...