Ethereum

Solana

<p>The post <a href="https://coinpedia.org/news/xrp-lacks-key-elements-like-customer-demand-for-etf-approval-solana-meets-all-criteria/">XRP Lacks Key Elements Like ‘Customer Demand’ for ETF Approval; Solana Meets All Criteria</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Matthew Sigel, Head of Digital Assets Research at VanEck appeared on <a href="https://www.youtube.com/watch?v=rIKRC4TwJTQ" target="_blank" rel="noreferrer noopener nofollow">Thinking Crypto’s podcast</a> and opened up about Ethereum, Solana and XRP ETFs. The SEC’s approval of eight Ethereum ETFs, including those from BlackRock and Fidelity, has fueled speculation about the potential for an <a href="https://coinpedia.org/news/xrp-etf-would-make-a-lot-of-sense-says-ripple-president-monica-at-consensus-2024/" target="_blank" rel="noreferrer noopener">XRP spot ETF</a>. After the <a href="https://coinpedia.org/news/bitcoin-etf-approved-heres-what-next-for-crypto-market/" target="_blank" rel="noreferrer noopener">approval of a Bitcoin ETF</a>, attention shifts to other leading cryptocurrencies like XRP and Solana.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-consideration-of-xrp-etfs"><strong>Consideration of XRP ETFs</strong></h2> 
<p>When Sigel was asked if they are considering XRP ETFs, he said that bringing an ETF to market requires several stakeholders to be on board. The regulator must approve the underlying asset, the issuer must have confidence in the asset’s value, and there must be support from counterparties like exchanges, market makers, and custodians. Additionally, there needs to be customer demand. For Solana, they have all these elements in place. However, for XRP, they are lacking internal conviction and customer demand, making an XRP ETF less likely at this time.</p> 
<h2 class="wp-block-heading" id="h-solana-s-readiness-for-an-etf"><strong>Solana’s Readiness for an ETF</strong></h2> 
<p>He stated that when they reviewed their Ethereum filing and examined the language around decentralization and blockchain characteristics, they also refreshed their deep dive on Solana. They looked at who controls the chain and who can stop it. They concluded that the ETH and SOL assets are fundamentally the same at this point, with no single entity controlling more than 20% of Solana’s outstanding tokens, nor can anyone unilaterally halt the chain.</p> 
<h2 class="wp-block-heading" id="h-ethereum-and-solana-a-comparative-analysis"><strong>Ethereum and Solana: A Comparative Analysis</strong></h2> 
<p>As a result, Solana is considered a utility commodity that provides access to the second-largest open-source app store. The analyst is optimistic that, over time, regulators will approve these products. He acknowledged the focus on the existence of a regulated futures market of significant size to ensure market transparency and prevent manipulation.&nbsp;</p> 
<p>However, he believes this focus is misplaced, pointing out that other ETFs in markets like power, electricity, shipping, and uranium do not rely heavily on the futures market for price formation.</p> 
<p>Read Also: <a href="https://coinpedia.org/price-analysis/best-crypto-to-buy-right-now-as-market-crash-bottoms-out/" target="_blank" rel="noreferrer noopener">Best Crypto To Buy Right Now As Market Crash Bottoms Out&nbsp;</a></p>

XRP Lacks Key Elements Like ‘Customer Demand’ for ETF Approval; Solana Meets All Criteria

목차

CoinPedia News

2024년 7월 10일에 게재된 다른 기사

Politician Pepe Buyer Generates Huge 1,200% Profit, But Holds For 18,000% Surge As DOGE and SHIB Lag

Ethereum Price Forecast: Dwindling Open Interest Hints Sluggish Climb To $4,000

"I Can't Believe It's Not Doge!" - Hottest Presale Shocks Crypto Veterans

Build Wealth with MoonBag Referrals (10% USDC Rewards) as it Surpasses Limitations of Avalanche (...

Web3 Users Hits 10 Million Milestone, Galaxy Fox Shines with Web3 Runner Game

Leading The RWA Revolution: Public Masterpiece Announces Its Successful Transformation

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!