Following the upcoming approval of spot Ethereum ETFs, many experts predict that Dogecoin, Solana, and XRP are next in line. Three of the biggest cryptocurrencies on the market in terms of popularity, DOGE; SOL; and XRP would benefit greatly from being available to trade on the stock market.
Recently, Ripple Labs’ president and CEO both made their case for a Ripple XRP ETF, with the CEO saying that multiple other coins are inevitably going to get their ETFs too. “People don’t want just exposure to one commodity,” Garlinghouse said in an interview with Fox Business. He added that it “only makes sense” to add more commodities to the market to give investors more options to trade. Therefore, XRP could be a new competitor to ETH and BTC ETFs on the market, as well as Solana and DOGE.
If the SEC works its way through the top cryptocurrencies by market cap, BNB would be the logical contender. However, there is a growing likelihood that XRP, DOGE, and SOL will be favored more. Furthermore, Cardano ADA can also be a likely contender for a crypto ETF.
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After Ethereum ETFs, Will SOL; DOGE; And XRP ETFs Come Next Year?
Standard Chartered analyst Geoffrey Kendric believes that 2025 will be a big year for crypto ETFs. Kendric believes that the approval of Ethereum ETFs sets the stage for the next wave of crypto funds. “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,” the analyst said. He added, “For now, Bitcoin and Ether dominance will rise, with selective “next in line” winners as well.”
Bloomberg ETF analysts moved up their expected Spot Ether ETF launch date to July 2nd, according to analyst Eric Balchunas. Upon full approval and launch of Ethereum ETFs, Ether is expected to boom dramatically just as Bitcoin did. The same will be likely for any news around XRP, Dogecoin, or Solana ETFs.