Standard Chartered anticipates Solana and XRP ETF by 2025 – DiarioBitcoin
By Hannah Perez
After the recent approval of Ethereum spot ETFs, the next reality will be more cryptocurrency ETFs, analysts at Standard Chartered suggest.
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- Cryptocurrency Spot ETFs Will Be Next After Ethereum ETF
- Standard Chartered expects Solana and XRP ETFs to be “a 2025 story”
- Bloomberg analyst James Seyffart agrees that more ETFs will arrive “in a few years”
- Ethereum Spot ETFs Received US SEC Approval Yesterday
- Standard Chartered remains bullish on Bitcoin and Ether
The recent approval of the first exchange-traded funds (ETFs) of Ethereum spot in the US market, is opening the door to a whole range of cryptocurrency-based ETFs. That seems to be at least the opinion shared by several analysts, including the bank’s experts. Standard Chartered.
The head of digital assets and forex research at Standard CharteredGeoffrey Kendrick anticipates that the next narrative in the cryptocurrency market will be spot ETFs. tokens as Solarium (SUN) and Ripple (XRP), as reported this Friday by the news outlet The Blockwhich cited a note written by the specialist.
The US Securities and Exchange Commission (SEC) on Thursday approved eight ETF proposals from Ethereum in cash, including BlackRock, Fidelity and Grayscale. After the approval of the ETFs Bitcoin spot in January, this is now the second type of fund that will offer US investors direct exposure to the prices of a cryptocurrency.
The approval from the regulators came unexpectedly and in an apparent change of position by the SEC motivated by political interests. In U.S.A.reports have suggested.
“The cryptocurrency industry now appears to have political backing on both sides of the aisle“said Kendrick, who described the event as a “true decisive moment“ and therefore anticipates an upcoming favorable change in regulatory winds.
ETFs Solarium It is next
According to the analyst of Standard Chartered The regulatory verdict means the SEC is not classifying Ethereum (ETH) as a security, which could mean that other similar cryptocurrencies that were previously under scrutiny by the agency also cannot be considered securities, the coverage detailed.
“In several cases, the core technology is so similar to ETH that it would be difficult for the SEC to claim they were securities given ETH’s position.“commented Kendrick regarding Solarium.
US regulators were clear in identifying XRP as a security in a high-profile lawsuit against Ripple. They have also targeted SOL and other cryptocurrencies as securities in legal actions against cryptocurrency exchanges. Coinbase, Binance and Kraken. Those lawsuits are still ongoing.
Kendrick predicts that cryptocurrency ETFs like Solarium and XRP are “a story from 2025“. He’s not the only one who thinks this way. In the middle of this week, as participants anxiously awaited the ETF verdict Ethereumthe trader and commentator of CNBCBrian Kelly, also raised the possibility of an ETF of Solarium cash.
In response to speculation, ETF analyst BloombergJames Seyffart, has agreed that ETFs of other cryptocurrencies could be produced “in a few years”after a market regulated by the Commodity Futures Trading Commission (CFTC) is achieved.
Meanwhile, the firm’s experts Bernstein agree that the approval of an ETF of Ethereum It represents significant regulatory relief for the cryptocurrency sector and will raise expectations that rival assets like SOL will be classified as a commodity or commodity rather than a security.
Standard Chartered remains bullish
The cryptocurrency market did not have the effusive response that many expected after the approval of the latest batch of ETFs. In recent hours, prices have remained relatively flat compared to the momentum at the beginning of the week. Ethereum led gains with a more than 20% jump on Tuesday.
Despite this, specialists from Standard Chartered They are still waiting for a more than double increase for Bitcoin toward the end of 2024. In the recent note, Kendrick said he continues to expect an acceleration in inflows into ETFs Bitcoin US spot markets, which will potentially boost Bitcoin at a target price of USD $150,000.
“A portfolio containing BTC and ETH ETFs is likely attractive and the industry has been further validated by the SEC’s ETH decision.”Kendrick said, citing The Block.
The London-based bank a few days ago reiterated its projection of USD $8,000 for Ethereum by the end of the year, after having insisted days before with his bullish projection for Bitcoin.
The ETFs of Ethereum Newly approved spot securities have not yet begun trading on stock exchanges, and issuers are still awaiting SEC go-ahead for S-1 filings before an official launch.
Bitcoin changes hands around USD $67,700 at press time, while ETH is trading around USD $3,700, with a modest 1.6% loss since this time yesterday.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
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