The post Standard Chartered Believes Solana and XRP Crypto ETFs Coming in 2025 appeared on BitcoinEthereumNews.com.

Coinspeaker Standard Chartered Believes Solana and XRP Crypto ETFs Coming in 2025 As the US SEC approved the spot Ethereum ETF on Thursday, May 23, market analysts have started talking about similar investment products for other altcoins. Standard Chartered Bank analyst Geoffrey Kendrick believes that the next chapter of crypto ETFs will unfold next year in 2025. Kendrick leads the digital assets research at Standard Chartered Bank. speaking to The Block publication on Friday, he said: “For other coins (e.g. SOL and XRP) markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story, not a 2024 one.” Kendrick added that the approval of spot Ether ETFs yesterday suggested that the altcoin isn’t a ‘security’, as stated by the SEC previously. He thus implied that other altcoins previously under the SEC scrutiny, such as the XRP case, could also be absolved of the ‘security’ status. Coinbase’s legal chief also stated yesterday that the approval signifies that Ethereum (ETH) is a commodity. He added: “In several cases the core technology is so similar to ETH it would be difficult for the SEC to claim they were securities given the ETH position. The crypto industry now seems to have political backing on both sides of the aisle.” Apart from Kendrick, other market players also joined the chorus for introducing a spot Solana ETF. SkyBridge Capital founder Anthony Scaramucci stated that they would soon be working on getting a Solana ETF ready. We are going to get a $SOL ETF get ready. — Anthony Scaramucci (@Scaramucci) May 24, 2024 Bitcoin Dominance Would Continue to Grow Kendrick anticipates a rise in dominance for both Bitcoin and Ether. He maintains his bullish outlook, particularly expecting significant inflows into spot Bitcoin ETFs, which could drive Bitcoin’s price to reach…

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Filed under: News - @ May 25, 2024 2:24 am