- The cryptocurrency market is abuzz with speculation about the potential launch of new exchange-traded funds (ETFs).
- Recent developments have seen major financial institutions like Standard Chartered and BlackRock weighing in on the future of crypto ETFs.
- Notably, Standard Chartered has suggested that an XRP ETF could be on the horizon, while BlackRock remains cautious about altcoins.
Discover the latest insights on potential crypto ETFs, including XRP and Solana, and their impact on the market.
Is Solana next as well?
As reported by various financial news outlets, there is growing speculation that Solana could be the next altcoin to receive its own ETF following Ethereum. This prediction comes from a CNBC contributor who believes that Solana’s strong market performance and technological advancements make it a prime candidate for an ETF.
Market Reactions and Predictions
Standard Chartered has echoed these sentiments, suggesting that Solana, often dubbed the “Ethereum killer,” could be a likely candidate for an ETF alongside XRP. The bank’s analysts believe that the approval of a Solana ETF could significantly boost its market value and attract a new wave of institutional investors.
Sky-high price targets
Standard Chartered has also made bold predictions regarding Ethereum’s price following the approval of its ETF. The bank forecasts that Ethereum could hit $4,000 in the short term and potentially reach $8,000 by the end of the year. This optimism is fueled by the recent surge in Ethereum’s price, which climbed to $4,095 on Bitstamp after the SEC approved multiple ETFs.
SEC’s Role and Market Impact
The SEC’s approval of 19b-4 listing requests for multiple ETFs has been a significant catalyst for the market. However, it’s important to note that the trading of these ETFs will not commence until the approval of their S-1 registration statements. This regulatory hurdle must be cleared before investors can start trading these new financial products.
Conclusion
The potential launch of new crypto ETFs, including those for XRP and Solana, represents a significant development in the cryptocurrency market. While BlackRock remains cautious about altcoins, other financial institutions like Standard Chartered are more optimistic. As the SEC continues to evaluate these proposals, the market eagerly awaits the potential impact of these new investment vehicles. Investors should stay informed and prepared for the opportunities and risks that lie ahead.
