Following the approval of Spot Ethereum ETFs this week, Standard Chartered analysts have said that Solana (SOL) and Ripple (XRP) ETFs could launch in 2025. Indeed, the bank is expecting more crypto-based ETFs to be on the way within the next year, The Block reports.
Ethereum joined Bitcoin as two of the only cryptocurrencies to receive spot ETFs in the United States. However, Standard Chartered is one of many financial institutions that expect that to change over the next several months. Moreover, the bank’s analysts point to Solana and XRP as the prominent targets for the investment products.
Also Read: Bitcoin to Hit a New All-Time High This Week: Standard Chartered
Standard Chartered Predicts Solana and XRP ETFs Next Year
The start of 2024 saw the digital asset market take a massive step forward in its overall exposure and adoption. Specifically, January witnessed the US Securities and Exchange Commission (SEC) approve the inaugural Spot Bitcoin ETF with great success.
Just three months after its issuance, BTC reached an all-time high of $73,000 and rallied institutional interest from some of the world’s largest entities. This week, Ethereum joined that list, with its very own spot ETF getting approved. Now, all eyes are on what asset could be next.
According to Standard Chartered Bank, Solana and XRP could be the next cryptocurrencies to receive ETFs as soon as 2025. Geoff Kendrick, an analyst with the bank, noted that those two assets are likely to get interest from markets on an impending ETF, but not this year.
Also Read: Trump Re-Election May Catapult Bitcoin, Standard Chartered Says
Additionally, the Ethereum ETF approval greatly impacts the ongoing security classification questions that the asset has faced. The SEC decision appears to imply that Ethereum, and coins like it, are not classified as securities. This caveat could be vitally important as more assets seek similar investment products.
Conversley, Ethereum’s value has yet to benefit from the ETF approval. Over the last 24 hours, it has fallen around 2% and is trading at just below $3,700 according to CoinMarketCap. However, the token should see a surge as the investment product begins trading.
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