Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, recently stated that he believes ETFs for cryptocurrencies such as Solana and XRP could be approved by 2025, following the approval of the ETH ETF.
The approval of Ethereum spot ETFs by the SEC is interpreted as a change in the institution’s perspective on cryptocurrencies. While the emergence of an important decision such as the ETH ETF creates great excitement, the main focus remains on its future effects.
“The core technology is so similar to ETH that it would be difficult for the SEC to argue that these are securities given its ETH position,” Kendrick commented.
The expected institutional investment will come with the approval of ETH ETFs. Kendrick estimates his ETFs could attract between $15 billion and $45 billion in investments in the first 12 months of trading. This will positively affect the market dominance of Bitcoin (BTC) and Ethereum, and this positive effect will also be reflected in other cryptocurrencies.
Kendrick remains optimistic about the future of crypto ETFs and thinks Bitcoin prices could reach $150,000 by the end of the year, thanks to strong investments from spot BTC ETFs. He is also sticking to his previous prediction that ETH will reach $8,000 by the end of the year.
Long Approval Process for XRP and SOL ETFs Following ETH ETF Approval
While interest in Ethereum is intense, Kendrick believes markets will wait for other cryptocurrencies to gain ETF status. “For example, SOL, the markets for XRP will wait for them to achieve ETF status as well, but this will most likely be a 2025 story, not 2024,” he notes. This timeline suggests that regulatory clarity and market readiness will be critical before additional ETFs can be approved.
Kendrick emphasizes that political support for cryptocurrencies in the US will be a “real turning point.” This bipartisan support will fuel further regulatory change and pave the way for a better-defined, friendlier framework for digital assets.
Approval of ETH ETFs signals a more progressive SEC approach, and approval of other coins such as XRP and SOL may also happen soon.
Approval of ETH ETFs would pave the way for further approvals for other major cryptocurrencies, and Standard Chartered’s Geoffrey Kendrick notes that these approvals are estimated for 2025.
Standard Chartered researcher’s predictions highlight the changing regulatory landscape and institutional interest in digital assets. As the years pass and institutional demand increases, mainstream financial markets are likely to become more adaptable to cryptocurrencies.
