An analyst at Standard Chartered, Geoffrey Kendric, thinks there's a good chance we'll see ETFs for Solana (SOL) and Ripple (XRP) by next year. Such comes after a big step forward in approving a regular (spot) Ethereum (ETH) ETF. Everyone's wondering what crypto is next in line for an ETF. With the constant growth of the cryptocurrency market, investors eagerly anticipate potential Solana price and XRP ETFs, which could impact market dynamics and investment strategies.
Kendric says even though everyone's excited about Bitcoin and Ethereum right now, Solana and XRP are strong contenders for future ETFs. But he warns that it'll probably happen in 2025, not this year. He explains, "The market expects these other coins to get ETFs eventually, but for SOL and XRP, it's more likely a 2025 story."
The reason for the wait? The Securities and Exchange Commission (SEC) just gave the go-ahead for a step toward a spot in Ethereum ETF. However, final approval can take a while.
Some experts believe Solana is a natural choice for the abutting ETF because it's similar to Ethereum. Bernstein, a brokerage firm, accepts that the SEC classifying Ethereum as a commodity paves the way for Solana to be categorized similarly. Solana is now the third biggest crypto by market value, following Bitcoin and Ethereum (not counting stablecoins like Tether and Binance Coin).
