The Securities and Exchange Commission (SEC) has recently approved spot Ethereum exchange-traded funds (ETFs) and may soon greenlight other crypto ETFs. According to Standard Chartered, Ripple’s XRP and Solana (SOL) could be the next contenders for crypto ETFs after ether.
Standard Chartered believes that SOL and XRP ETFs may not happen in 2024 but could be a possibility in 2025. The approval of spot Ethereum ETFs marks a significant moment in the crypto industry, with the SEC now acknowledging Ethereum as not being categorized as a security.
SEC Chairman Gary Gensler has previously stated that all coins and tokens, except Bitcoin, are securities. SOL and XRP have faced scrutiny from the SEC in the past for being unregistered securities. Gensler hinted that Ethereum’s shift to a proof-of-stake model could potentially classify it as a security.
Standard Chartered predicts that Ether could reach $8,000 by the end of the year, with the spot ETH ETFs expected to attract significant investment within the first 12 months. The bank also maintains its prediction of a $150,000 Bitcoin price tag by year-end, citing the ongoing inflows for spot Bitcoin ETFs.
Overall, the approval of spot Ethereum ETFs by the SEC is seen as a positive step for the crypto industry, with potential for further regulatory changes in the future.