Ether ETF approval opens room for SOL, XRP ETF in 2025: Standard Chartered

Standard Chartered Bank analyst Geoffrey Kendrick said that the recent approval of spot ether ETFs suggests that ether is not classified as a security by the U.S Securities and Exchange Commission (SEC), opening the possibility for other altcoins such as Solana (SOL) and Ripple (XRP) to follow suit, according to The Block. However, this will likely happen in 2025, according to Kendrick. "For other coins (eg, SOL, XRP) markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story not a 2024 one," said the analyst. He added that "The crypto industry now seems to have political backing on both sides of the aisle," calling it a "true watershed moment." While the market anticipates more crypto ETFs, Kendrick's expectation is that Bitcoin and Ethereum dominance will continue to rise in the near future.