More crypto ETFs are coming. That’s according to British multinational bank Standard Chartered, whose digital assets researcher said in a Friday note that The U.S. Securities and Exchange Commission (SEC) Geoffrey Kendrick, Standard Chartered’s head of crypto research and emerging market foreign currencies, said that it is now only a matter of time before other major digital coins receive the ETF wrapper status. “For other coins (eg. SOL, XRP) markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story not a 2024 one,” he wrote. “Other ETH-like coins (a number of which the SEC claimed were securities in the 2023 XRP case) are also not securities,” Kendrick continued. “In several cases the core technology is so similar to ETH it would be difficult for the SEC to claim they were securities given the ETH position.”Industry observers and analysts were pessimistic about the approval of spot Ethereum ETFs this week, because the SEC had barely engaged with from asset managers hoping to drop the funds. Then, the fund managers seeking to launch the products started The approval of the Ethereum ETFs is surprising because the regulator had cracked down—and harshly, according to some lawmakers—on the crypto industry. One high-profile lawsuit against the Wall Street watchdog even In 2023, Ripple, a fintech company whose founders launched XRP, Though the judge did rule that $728 million worth of contracts for institutional sales did constitute unregistered securities sales, the industry interpreted the news as positive. Under SEC chair Gary Gensler, the Kendrick added in his note that by the end of the year, Ethereum should reach $8,000 per coin. The bank’s researcher previously said that Bitcoin could reach $150,000 per coin by the end of 2024. He added today that price was still realistic with the continued success of the ETFs.Edited by Andrew Hayward
