Analysts foresee Solana and Ripple ETFs in 2025, following the approval of Ethereum ETFs.
The progression began with a Bitcoin ETF, then Ethereum. What’s next?
Some analysts predict Solana as the next likely candidate, but Standard Chartered’s Geoffrey Kendrick suggests a Ripple (XRP) ETF could also emerge by 2025.
“For other coins like SOL and XRP, the focus will be on their eventual ETF status, likely in 2025 rather than 2024,” Kendrick noted.
The recent SEC approval of Spot Ethereum ETFs has heightened interest in other crypto ETFs.
Ripple CEO Brad Garlinghouse celebrated the SEC’s approval as a “momentous” industry milestone and hinted at the potential for multiple token ETFs.
In February, Garlinghouse indicated, “We would certainly welcome it,” referring to an XRP ETF, noting that multiple ETFs across different tokens are inevitable.
A spot crypto ETF tracks the price of a specific cryptocurrency and invests in it. These funds are publicly traded and provide retail traders direct exposure to crypto prices.
XRP faces hurdles due to its ongoing SEC lawsuit, accusing Ripple of selling unregistered securities. The lawsuit’s resolution will be pivotal for Ripple’s future and the feasibility of an XRP ETF.
Legal uncertainties have suppressed XRP’s price, currently at $0.53, below its 2024 opening price of $0.62.
A lawsuit resolution is expected this summer, potentially leading to a price increase for XRP.
This sentiment towards a spot ETF coincides positively with the crypto industry, both politically and financially. Last Wednesday, the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21), signaling openness to the crypto industry.