- Standard Chartered’s prediction that Ripple XRP or Solana SOL by 2025 will either be Ripple’s XRP, according to Brad Garlinghouse, CEO of Ripple.
- Due to its similarity to Ethereum, industry experts believe that Solana could make a good candidate for a new ETF.
After the industry ruminates on which cryptocurrency will be the next, following the approval of an important filing for the launch of an exchange-traded Ether (ETH), leaders in the sector speculate. Standard Chartered predicts Solana’s (SOL), or Ripple XRP, could be the future contenders. But not until 2025. Geoffrey Kendric commented:
Other coins, such as SOL and XRP (eg. The markets are also looking forward to the ETF status for SOL, and XRP. However, this will likely be a story of 2025, rather than 2024. The dominance of ether and bitcoin will increase, but only in the short term. “next in line” Winners as well.
Brad Garlinghouse of Ripple, the CEO who announced the new development, stated that an ETF would be welcomed and that he also believed that the market would have multiple ETFs.
🚨BÄÄÄÄÄM! 🚨#Ripple Brad Garlinghouse is the CEO at Brad Garlinghouse. #XRP ETF! Standard Chartered, a billion-dollar bank and many analysts predict an XRP ETF and SOL in 2025. 🚀🚀🚀 pic.twitter.com/iI0uXCqWSp
— Collin Brown (@CollinBrownXRP) May 27, 2024
Securities and Exchange Commission has approved the forms 19b-4 that were filed on Thursday by possible issuers. It is an important step toward launching spot Ether ETF. The regulator must approve only two of the necessary forms. This approval could last for several weeks or months.
The Crypto ETF Market is Growing
According to the report, several industry experts suggested that Solana would make a good third ETF due to its similarity with Ethereum. Crypto News Flash report. Bernstein said that given Ethereum’s status as a commodity Solana may follow in a similar path. Solana, after Bitcoin and Ethereum, is the third largest cryptocurrency in terms of market capital.
Jaret Seiberg, TD Cowen Washington Research Group, commented on the SEC decisions’ rapid progress in a Thursday note. “This comes about six months faster than we expected… yet this decision was also inevitable once the SEC approved crypto futures ETFs.” Seiberg also speculated that in the coming year there may be an offer that includes a “basket of crypto tokens,” The system could include Bitcoin, Ether and possibly other cryptocurrencies.
TD Cowen says that despite potential setbacks under Gensler, the SEC’s Democratic majority will be maintained through 2026. “We expect the agency will continue to litigate against crypto trading platforms that trade tokens believed to be unregistered securities,” Researchers wrote about the findings.
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Source: www.crypto-news-flash.com
