- Standard Chartered says Solana and Ripple’s XRP could be next in line to become spot ETFs.This won’t likely happen until 2025, analyst Geoffrey Kendric wrote in a note.
As an experienced analyst, I’ve closely followed the developments in the crypto industry, particularly regarding exchange-traded funds (ETFs). Based on my analysis of the current situation and the information provided in the article, I believe that Solana (SOL) and Ripple’s XRP have a good chance of becoming spot ETFs in the future, possibly around 2025.Industry insiders ponder which cryptocurrency may follow ETH‘s lead after securing regulatory approval for its ETF submission.
As a researcher studying the trends and predictions within the cryptocurrency market, I’ve come across some intriguing insights from Standard Chartered (STAN). They’ve expressed their belief that Solana (SOL) or Ripple’s XRP could potentially emerge as significant players in the industry by 2025.
Analyst Geoffrey Kendric expressed that the market focus for cryptocurrencies like Solana (SOL) and Ripple (XRP) may shift towards their potential ETF approval in the future. However, this is more of a long-term prediction, estimated to occur around 2025 rather than 2024. In the meantime, Bitcoin and Ethereum‘s influence over the market will grow, with some other coins potentially following as secondary contenders.
The Securities and Exchange Commission (SEC) granted its approval on Thursday for forms 19b-4 submitted by prospective issuers, signifying progress towards the debut of a spot Ethereum exchange-traded fund (ETF). However, it’s important to note that this is just one of two required forms that still needs regulatory clearance.
The SEC might require several weeks, if not months, or even an indeterminate amount of time to review and approve the S-1 filing, which has been submitted by only a few prospective companies so far.
Based on the insights shared by various industry professionals, Solana (SOL) could make an ideal candidate for a third Ethereum-like Exchange Traded Fund (ETF), considering their likenesses.
As an analyst, I would interpret Bernstein’s note as follows: I took note of Bernstein’s statement on Thursday, indicating Ethereum’s commodity classification could influence its price behavior. With Solana being the third largest cryptocurrency by market capitalization, excluding stablecoins Tether (USDT) and Binance Coin (BNB), it’s worth considering how this dynamic might play out for Solana as well.
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2024-05-24 17:51