Ethereum

Solana

Standard

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 <p class="paragraph">Following the recent approval of Ethereum&nbsp;(ETH)&nbsp;spot exchange-traded funds (ETFs), Geoffrey Kendrick, an analyst at Standard Chartered, has indicated that the next wave of crypto ETFs could emerge by 2025.</p>
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  <p class="paragraph">“For other coins (e.g., Solana, XRP), markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story, not a 2024 one,” said Kendrick, Head of EM FX Research, West, and Crypto Research at Standard Chartered Bank, in a statement to <em>The Block</em> on Friday, May 24.</p>
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 <p class="paragraph">The approval of&nbsp;Ethereum&nbsp;spot ETFs on Thursday suggests that the Securities and Exchange Commission (SEC) does not classify ETH as a security. This development hints that other cryptocurrencies with similar characteristics to ETH, such as those scrutinized in the 2023 XRP case, might also escape being labeled as securities, Kendrick explained.</p>
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    SEC’s Ethereum ETF approval confirms ETH is not a security, experts say <span class="self-center text-xs text-slate-500">47 mins ago</span>
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  <p class="paragraph">“In several cases, the core technology is so similar to ETH that it would be difficult for the SEC to claim they were securities given the ETH position,” Kendrick noted. “The crypto industry now seems to have political backing on both sides of the aisle.”</p>
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 <p class="paragraph">The Head of Forex and Digital Assets Research described this bipartisan support in the U.S. as a “true watershed moment” for the crypto industry, emphasizing that the pertinent question now is not if but when the market will witness further regulatory changes.</p>
 <h2 class="wp-block-heading" id="h-more-analysts-predict-a-solana-etf">More analysts predict a Solana ETF</h2>
 <p class="paragraph">Brian Kelly ignited a debate on crypto X on Wednesday by suggesting that Solana&nbsp;(SOL)&nbsp;could be the next cryptocurrency to secure a spot exchange-traded fund in the United States.</p>
 <p class="paragraph">Kelly made his prediction during the CNBC post-market talk show Fast Money on May 22. “The trade now is, who’s next?” asked Kelly, who is also the founder and CEO of the BKCM Digital Asset Fund.</p>
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  <p class="paragraph">“You’ve got to think about Solana as probably the next one. Bitcoin, Ethereum, and Solana are probably the big three for this cycle.”</p>
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 <p class="paragraph">Nate Geraci, president of The ETF Store, believes a spot Solana&nbsp;ETF won’t materialize until a Solana futures product is listed on the Chicago Mercantile Exchange or until Congress establishes a comprehensive cryptocurrency regulatory framework. So far, only Bitcoin&nbsp;(BTC)&nbsp;and futures have received approval in the U.S.</p>
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    <p lang="en" dir="ltr">No sol ETF until either CME-traded sol futures exist or Congress puts legit crypto regulatory framework in place…<br><br>Crypto ETF spigot turned off for a while after spot eth ETF approval… IMO. https://t.co/6CwP8UcOj4</p>— Nate Geraci (@NateGeraci) May 22, 2024
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 <p class="paragraph">Bloomberg ETF analyst James Seyffart echoed Geraci’s sentiments, predicting that such a development would occur “within a few years” of establishing a Commodity Futures Trading Commission-regulated market.</p>
 <p class="paragraph">Seyffart also suggested that a spot Solana ETF would attract more demand than any other digital asset outside of Bitcoin and Ether. However, he cautioned that SEC Chair Gary Gensler has previously flagged Solana as a security in lawsuits against Coinbase and Kraken, which could complicate future applications.</p>
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    <p lang="en" dir="ltr">But SEC isn't dancing around SOL's status like they have ETH. Those lawsuits against COIN and Kraken and others flat out say "Solana is a security" lol. Which could very easily make this a very rocky road</p>— James Seyffart (@JSeyff) May 22, 2024
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 <h2 class="wp-block-heading" id="h-standard-chartered-bitcoin-forecast-nbsp">STandard Chartered Bitcoin forecast&nbsp;</h2>
 <p class="paragraph">Meanwhile, Kendrick has also disclosed that the approval of Ethereum Spot ETFs by the&nbsp; SEC might have a substantial effect on Bitcoin’s price movements.&nbsp;</p>
 <p class="paragraph">Kendrick stated that BTC is poised to surpass its previous all-time high reached on March 14, 2024, potentially reaching approximately $73,798. He expects this significant surge to occur by the weekend, attributing the potential increase to recent inflows into Spot Bitcoin ETFs.</p>
 <p class="paragraph">He also reaffirmed his previous forecast, predicting that Bitcoin could climb to $150,000 by the end of 2024 and achieve a remarkable $200,000 in 2025.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/standard-chartered-says-xrp-and-solana-etfs-may-launch-in-2025-tbt89584.html">https://thebittimes.com/standard-chartered-says-xrp-and-solana-etfs-may-launch-in-2025-tbt89584.html</a></p>

Standard Chartered says XRP and Solana ETFs may launch in 2025

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