Nate Geraci, a well-known expert on crypto ETFs and co-founder of The ETF Institute, has pointed out a surprising shift in sentiment toward crypto-focused ETFs.
People are now discussing the possibility of SOL and XRP ETFs, especially considering earlier concerns that the SEC might reject all Ethereum fund applications.
Shift in Market Sentiment Towards XRP and SOL ETFs
According to Nate Geraci, market sentiment last week strongly suggested that all Ethereum ETF applications would be denied by the U.S. SEC.
A week ago, everyone thought spot eth ETFs would be denied…
Now people talking about sol & xrp ETFs.
Wild turn of events.
— Nate Geraci (@NateGeraci) May 27, 2024
However, within just one week, there has been a significant change in the discussions among market participants. Now, the focus has shifted to the potential for XRP and SOL ETFs, marking a notable shift in sentiment.
Speculation and Debate Surrounding XRP ETFs Post Ethereum’s Approval
Following the U.S. SEC’s approval of eight Ethereum exchange-traded fund (ETF) applications, discussions have turned to which cryptocurrency might be next in line. Currently, assets like XRP are at the forefront of these discussions, particularly after Ripple CEO Brad Garlinghouse hinted at the possibility of XRP ETFs. Many in the XRP community share this optimism but are uncertain about the timeline for approval.
Despite the positive speculation, concerns linger regarding the SEC v. Ripple lawsuit and its potential impact on the approval process for XRP ETFs. In a recent interview, Godfrey Kendrick, head of digital asset research at Standard Chartered, addressed these concerns.
Speculations on XRP ETF Approval and Market Dynamics
Godfrey Kendrick, head of digital asset research at Standard Chartered, has predicted that the approval of an XRP ETF could be a story for 2025, suggesting a potential timeline for regulatory approval by next year. Kendrick also highlighted the significance of the SEC’s approval of multiple Ethereum ETFs, indicating that the regulator views Ethereum’s core technology similarly to XRP’s, which could influence future decisions.
Despite the anticipation, no asset manager has yet formally applied to launch an XRP ETF. Market participants are now focused on the SEC’s pending decision on the S-1 documents filing for Ethereum ETFs, which would allow these products to begin trading in the United States once approved.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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