Contents
According to banking giant Standard Chartered, an XRP exchange-traded fund could be launched in the U.S. next year.
When asked about the possibility of launching an ETF for the XRP cryptocurrency in January, BlackRock CEO Larry Fink said that he could not talk about it.
Fox Business also reported that BlackRock had no intention to launch an ETF for the Ripple-affiliated cryptocurrency.
BlackRock’s Robert Mitchnick has also confirmed that the global asset management firm has very little enthusiasm for altcoins.
However, Ripple CEO Brad Garlinghouse said that altcoin-based XRPs seemed to be “inevitable.” He said that that the company would welcome such a product for XRP.
Notably, a bipartisan group of House lawmakers recently sent SEC Chair Gary Gensler a letter urging the agency to approve ETFs for Ethereum as well as “other” digital assets. Leading ETF analyst Eric Balchunas recently said that he would not be surprised if ETF issuers “pounce on SEC vulnerability” to file products for all kinds of altcoins.
Is Solana next as well?
As reported by U.Today, a CNBC contributor recently predicted that Solana could be the next altcoin to get its own ETF after Ethereum.
Related
Standard Chartered appears to be on the same page, suggesting that the popular “Ethereum killer” could also be a likely ETF candidate, alongside XRP.
Sky-high price targets
Standard Chartered correctly predicted that the Ethereum price would hit $4,000 following the approval of Ethereum’s ETF.
Earlier this week, the leading altcoin surged to $4,095 on Bitstamp following the SEC’s approval.
The SEC greenlit multiple ETFs on Thursday by approving 19b-4 listing requests.
However, the Ethereum ETF will not start trading until the approval of its S-1 registration statements.
Standard Chartered has forecasted that the Ethereum price could end up hitting $8,000 by the end of the year.
