Ethereum
After Ethereum, XRP and Solana ETFs could be launched by 2025: Geoffrey Kendrick
Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, made an intriguing prediction: cryptocurrency ETFs for coins like Solana And XRP could be approved as early as 2025.
A turning point for crypto?
The recent nod of the SEC for Ethereum Spot ETFs signals a significant shift in how regulators view cryptocurrencies, according to Kendrick.
Kendrick points out that the core technologies of Ethereum and other cryptocurrencies bear striking similarities. He argues that this similarity makes it difficult for the SEC to classify them as securities.
“The underlying technology is so similar to ETH that it would be difficult for the SEC to argue that these were securities given ETH’s position.”
A look at market dynamics
With Ethereum ETFs in the picture, Kendrick predicts an increase in institutional investment, estimating potential inflows ranging from $15 billion to $45 billion in the first year of trading. This could further strengthen the market dominance of Bitcoin and Ethereum and have a positive impact on other cryptocurrencies.
Kendrick remains optimistic about the prospects for crypto ETFs. He predicts Bitcoin prices will reach $150,000 by the end of the year, driven by strong capital inflows from spot BTC ETFs. Additionally, he maintains his earlier prediction that Ethereum would reach $8,000 by the end of the year.
Looking Ahead: Beyond Ethereum
Although the immediate focus has been on Ethereum, Kendrick believes the market will likely look forward to the eventual ETF status for other cryptocurrencies.
“For other coins (e.g. SOL, XRP), markets will also anticipate their eventual ETF status, although this is likely a 2025 story and not 2024.”
This timeline indicates that regulatory clarity and market readiness could be critical to the approval of these additional ETFs.
Kendrick noted that political support for cryptocurrency in the United States would be “a real watershed moment.” This bipartisan support is expected to fuel further regulatory changes, laying the foundation for a better-defined, more user-friendly framework for digital assets.
The approval of spot ETH ETFs portends a more progressive SEC approach, and approval of other coins like XRP and SOL may well come soon.
Positive feelings spread!
The approvals for Ethereum spot ETFs will provide a stepping stone to more approvals for other major cryptocurrencies, which Standard Chartered’s Geoffrey Kendrick is, in fact, already predicting for 2025.
The Standard Chartered researcher’s predictions highlight the evolving regulatory landscape and institutional interest in digital assets. As the years pass and institutional demand takes over, traditional financial markets will likely become more accommodating towards cryptocurrencies.
Could altcoin ETFs be the next big thing? Stay tuned to find out!
Also discover: XRP ETF Ready for Launch? Analysts identify key enablers