Crypto ETFs for SOL, XRP 'More Likely to Be Discussed' in 2023, Says Standard Chartered Analyst

IconCryptoNewsTerminal Staff24 May, 2024

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Crypto ETFs for SOL, XRP 'More Likely to Be Discussed' in 2023, Says Standard Chartered Analyst

Standard Chartered analyst Geoffrey Kendrick believes spot exchange-traded funds (ETFs) for cryptocurrencies like Solana (SOL) and Ripple (XRP) could be discussed next year, following the recent approval of an Ether (ETH) spot ETF by the U.S. Securities and Exchange Commission (SEC). Kendrick noted that the SEC's approval of the ETH spot ETF, along with the outcome of its summary judgment motion against Ripple, suggests that similar cryptocurrencies may not be considered securities. "The core technology for some of these altcoins is so similar to Ethereum that it's going to be very difficult for the SEC to argue that they are securities," he said. Kendrick also said that while the market is looking for more crypto ETFs, bitcoin and ether will likely continue to dominate market share for the time being. ---

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