XRP and Solana ETFs Expected by 2025! 🚀🔮

XRP and Solana ETFs could be approved by 2025

Geoffrey Kendrick, the Head of Forex and Digital Assets Research at Standard Chartered Bank, predicts that cryptocurrency ETFs for coins like Solana and XRP could see approval by the year 2025. This forecast comes after the recent approval of Ethereum spot ETFs by the SEC, indicating a potential shift in the regulator’s perspective on digital assets.

Implications of ETH ETF approval

Kendrick believes that the approval of Ethereum ETFs sets a precedent for similar cryptocurrencies.
He argues that coins like Solana and XRP share core technologies with ETH, making it challenging for regulators to classify them as securities.

Institutional Inflows and Market Dynamics

Following the approval of ETH ETFs, Kendrick anticipates a significant institutional inflow into the market. He suggests that ETH ETFs could attract inflows ranging between $15 billion to $45 billion within the first year of trading. This influx of funds is expected to have a positive impact on the dominance of Bitcoin and Ethereum in the market, potentially benefiting other cryptocurrencies as well.

Price projections

Kendrick maintains a bullish outlook on crypto ETFs and forecasts that Bitcoin prices could reach $150,000 by the end of the year.
He also stands by his previous prediction of Ethereum hitting $8,000 by the end of the year.

Challenges in ETF Approval for XRP and Solana

While the focus has been on Ethereum, Kendrick believes that the market will turn its attention to the eventual ETF approval for other cryptocurrencies like XRP and Solana. However, he suggests that this process may take longer, potentially extending into 2025.

Regulatory landscape

Kendrick emphasizes the importance of political support for cryptocurrencies in the U.S. as a crucial factor in the approval of ETFs.
He notes that bipartisan backing could lead to regulatory changes that create a more friendly environment for digital assets.

Overall Outlook

The approval of Ethereum spot ETFs could pave the way for the acceptance of other major cryptocurrencies in the market. Kendrick’s projections for 2025 indicate a changing regulatory landscape and growing institutional interest in digital assets, suggesting a more accommodating attitude towards cryptocurrencies in mainstream financial markets.

Hot Take: A Glimpse into the Future of Crypto ETFs

As the cryptocurrency market continues to evolve, the potential approval of ETFs for coins like XRP and Solana by 2025 could revolutionize the industry.