Potential Approval of XRP and SOL ETFs by 2025: Insights from Standard Chartered’s Geoffrey Kendrick
The cryptocurrency market continues to evolve at a rapid pace, with new developments and opportunities constantly emerging. One of the latest predictions comes from Geoffrey Kendrick, the Head of Forex and Digital Assets Research at Standard Chartered Bank, who believes that cryptocurrency ETFs for coins such as Solana and XRP could be approved by 2025.
This news comes on the heels of the recent approval of Ethereum spot ETFs by the SEC, signaling a potential shift in the securities regulator’s view of cryptocurrencies. Kendrick suggests that the approval of ETH ETFs could pave the way for similar approvals for other cryptocurrencies, as the core technology is so similar that it would be difficult for the SEC to classify them as securities.
The expected institutional inflows following the approval of ETH ETFs could have a significant impact on the market dynamics. Kendrick predicts that ETH ETFs could attract inflows of up to $45 billion within the first year of trading, positively impacting the market dominance of Bitcoin and Ethereum. This positive influence could trickle down to other cryptocurrencies as well.
While the focus is currently on Ethereum, Kendrick believes that the market will turn its attention to the eventual ETF status for other coins like XRP and Solana in the coming years. He predicts that 2025 could be the year for XRP and Solana ETF approvals, highlighting the importance of regulatory clarity and market readiness in securing these approvals.
Kendrick also emphasizes the importance of political backing for cryptocurrencies in the U.S., noting that bipartisan support could lead to further regulatory changes and a more favorable framework for digital assets. The approval of ETH spot ETFs suggests a more progressive approach from the SEC, paving the way for additional approvals in the future.
Overall, Kendrick’s predictions highlight the evolving regulatory landscape and growing institutional interest in digital assets. As mainstream financial markets become more accommodating of cryptocurrencies, opportunities for investment and growth in the crypto space are likely to expand. Keep an eye out for potential ETF approvals in the coming years, as they could herald new opportunities for investors and further legitimize the crypto market.
