- XRP and Solana ETFs are imminent in the US, spurred by rising Ethereum ETF approvals.
- Lawmakers are pushing for expanded altcoin ETF options beyond Bitcoin and Ethereum.
- Despite optimism, investor demand for altcoin ETFs remains uncertain.
Ripple CEO Brad Garlinghouse has firmly stated that Americans will see ETFs for XRP and Solana soon. At the Consensus conference, Garlinghouse focused on the inevitability of an XRP ETF as a crucial step forward in the field of cryptocurrency investments.
Regulatory Developments
The Ethereum prices have risen to the highest level since mid-March this year following the SEC approval for four spot Ethereum ETFs. This shift in regulation demonstrates that ETFs for altcoins are gaining more popularity among investors in the US market.
Garlinghouse’s forecasts are in line with industry projections regarding the expansion of ETF products beyond Ethereum and Bitcoin. Lawmakers who support cryptocurrencies have pushed the SEC to expedite the approval of ETFs for a variety of tokens, such as Solana and XRP. However, concerns linger about investor demand for these products, given recent statements by industry leaders.
Market Response and Future Outlook
Following the success of Bitcoin ETF launches earlier this year, market observers anticipate similar outcomes for altcoin ETFs.
British multinational bank Standard Chartered has echoed Garlinghouse’s sentiments, predicting XRP and Solana will lead the next wave of altcoin ETFs. Despite regulatory optimism, the actual market reception remains uncertain, with BlackRock’s Robert Mitchnick noting minimal client interest in altcoins.
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