Investing.com – Following the approval of Spot Ethereum ETFs, predictions have begun to emerge regarding which assets the next crypto ETFs will target.
Geoffrey Kendrick, an analyst at Standard Chartered Bank, said crypto ETFs could be on the horizon next year. Kendrick, head of Forex and Digital Assets Research at Standard Chartered, told The Block that there could be ETF applications for other crypto assets like Solana and XRP, but ETFs for these assets may come to light in 2025.
Kendrick suggested that the approval of the spot ETH ETF by the SEC demonstrated that Ethereum is not classified as a security, implying that similar crypto assets to Ethereum would also not be considered securities.
He further stated:
“In some cases, the core technology resembles ETH so much that it will be hard for the SEC to claim these are securities given their position on ETH. It appears that the crypto industry currently enjoys political support on both sides of the aisle.”
“Bitcoin and Ethereum dominance set to increase”
Kendrick also viewed the support provided by the U.S. for the crypto sector as a significant turning point, while pointing out that the next issue would be when more regulatory action would be seen.
With the trading of Spot Ethereum ETFs also commencing, it is anticipated that Bitcoin and Ethereum’s dominance in the market will increase, depending on the flow of funds into the crypto ETF market.
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Bold predictions for Bitcoin and Ethereum
Kendrick believes that both Bitcoin and Ethereum ETFs will be included in institutional portfolios. The Standard Chartered Bank analyst also reiterated his prediction for Bitcoin. With strong initial performance expected from Spot Bitcoin ETFs, Kendrick believes that the flow of funds will continue, potentially leading BTC to reach $150,000 by the end of the year.
Source: investing.com
