Recent Developments in Crypto ETFs: Solana and XRP in Focus

The recent approval of Spot Ethereum ETFs has sparked discussion about which crypto token could be the next to have its own ETF. Solana (SOL) and XRP ETFs have emerged as frontrunners, with experts weighing in on their likelihood of approval.

According to Brian Kelly, founder of BKCM, Solana is likely the next in line to receive its own ETF. He argues that Bitcoin, Ethereum, and Solana are the ‘Big 3’ in the current cycle, with Bitcoin and Ethereum already having their respective funds. Bloomberg analyst James Seyffart also supports this view, predicting that a SOL ETF would see significant demand once a regulated futures market is established.

However, the road to approval for a Solana ETF may not be smooth sailing, as the SEC has raised concerns about the security status of Solana. This uncertainty has led some, like Cathie Wood of Ark Invest, to predict that only Bitcoin and Ethereum Spot ETFs will be approved in the US.

On the other hand, the likelihood of an XRP ETF seems less certain. Market experts suggest that the SEC must first clarify that XRP is not a security before such a fund can be launched. With ongoing legal battles between the SEC and Ripple, the prospects for an XRP ETF this year appear slim.

Despite these challenges, Ripple’s CEO Brad Garlinghouse remains optimistic about the future of XRP. He believes that XRP, along with Bitcoin, is one of the few crypto assets with regulatory clarity, making it a strong contender for an ETF approval in the future.

As the crypto market continues to evolve and regulatory landscape shifts, the debate over which crypto token will get its own ETF next remains ongoing. Stay tuned for more updates on this exciting development in the world of digital assets.