- Ripple CEO Brad Garlinghouse supports the potential launch of an XRP ETF by 2025, aligning with Standard Chartered’s forecast that Solana (SOL) or XRP could be next in line for ETF status.
- Industry experts emphasize Solana’s suitability due to its similarities with Ethereum, while regulatory hurdles remain a significant factor in the approval process.
Ripple CEO Brad Garlinghouse has expressed his support for the potential launch of an XRP Exchange-Traded Fund (ETF), a development eagerly anticipated by many in the cryptocurrency community. This sentiment comes as financial giant Standard Chartered forecasts that by 2025, either Solana (SOL) or Ripple’s XRP could see the introduction of their own ETFs.
The Race for the Next Big Crypto ETF
The current excitement follows the recent approval of a crucial filing for a spot Ether (ETH) ETF, which has spurred industry leaders to speculate about the next cryptocurrency to enter the ETF market. Standard Chartered’s analyst, Geoffrey Kendrick, noted that while Bitcoin and Ethereum will continue to dominate in the short term, other coins like SOL and XRP are expected to gain ETF status in 2025.
Ripple’s Brad Garlinghouse echoed this optimism, stating that he would welcome an XRP ETF and anticipates a future where multiple cryptocurrency ETFs coexist. This support reflects a broader industry trend toward embracing more diversified crypto investment options.
The Securities and Exchange Commission (SEC) has been instrumental in this evolving landscape. Recently, the SEC approved forms 19b-4 filed by potential issuers, a significant step toward launching a spot Ether ETF. However, the journey is far from over, as the S-1 document, another crucial form for ETF approval, still awaits the SEC’s green light. This process could extend over weeks or months, adding to the anticipation and uncertainty in the market.
Solana as a Strong Contender
Many experts see Solana (SOL) as a strong candidate for the next crypto ETF, citing its technological similarities to Ethereum. Solana’s classification as a commodity, akin to Ethereum, enhances its prospects. Currently, Solana stands as the third-largest cryptocurrency by market cap, following Bitcoin and Ethereum, further solidifying its position as a logical choice for an ETF.
In a recent note, Jaret Seiberg from TD Cowen’s Washington Research Group highlighted the rapid progression of SEC decisions. He speculated that within the next year, we might see offerings that include a “basket of crypto tokens,” potentially featuring not just Bitcoin and Ether but extending to other cryptocurrencies.
Despite the optimistic outlook, the regulatory landscape remains challenging. TD Cowen predicts that the SEC, under Chairman Gary Gensler, will continue its stringent oversight of crypto trading platforms through 2026. The agency is expected to persist in litigating against platforms trading tokens deemed unregistered securities.
While the path to an XRP ETF is filled with regulatory hurdles and market uncertainties, the support from industry leaders like Garlinghouse and predictions from major financial institutions suggest a promising future. By 2025, the cryptocurrency market could see the introduction of ETFs for SOL and XRP, marking another significant milestone in the mainstream acceptance of digital assets.
About the Author
