Standard Chartered Predicts Launch of XRP ETF in U.S. by 2025
Standard Chartered Predicts XRP ETF Launch in the U.S. by 2025
Standard Chartered has made a bold prediction, stating that an XRP exchange-traded fund (ETF) could be introduced in the U.S. as early as 2025. The forecast follows BlackRock and its CEO, Larry Fink, choosing not to provide any commentary on the potential launch of an XRP ETF. Ripple CEO Brad Garlinghouse has expressed openness to the idea of altcoin-based XRPs, and a bipartisan assembly of House lawmakers has recently urged the SEC to authorize ETFs for Ethereum and other digital assets. Additionally, Standard Chartered has hinted at Solana being a possible candidate for an ETF. They accurately projected the Ethereum price surge to $4,000 post the approval of Ethereum's ETF and have further predicted that the Ethereum price could soar to $8,000 by the year-end.
Key Takeaways
- Standard Chartered anticipates the potential launch of an XRP ETF in the U.S. by 2025.
- BlackRock has displayed a lack of enthusiasm for altcoin-based ETFs, whereas Ripple's CEO is supportive of an XRP ETF.
- A group of House lawmakers has urged the SEC to sanction ETFs for Ethereum and other digital assets.
- Analysts have identified Solana as a probable candidate for an ETF following Ethereum's example.
- Standard Chartered has forecasted that the Ethereum price could reach $8,000 by the end of 2024.
Analysis
Standard Chartered's projection of an XRP ETF being introduced in the U.S. by 2025 potentially signals a surge in mainstream acceptance of cryptocurrencies. This development could considerably influence XRP's liquidity and worth, thereby strengthening Ripple's position in its legal confrontation with the SEC. Other cryptocurrency firms like Solana could also benefit from amplified ETF interest. Nevertheless, established financial entities such as BlackRock might maintain a cautious stance due to the uncertain regulations adjoining altcoin-based ETFs. In the short term, this disclosure might drive up the prices of XRP and Ethereum, while its long-term implications hinge on the evolution of regulatory frameworks and investor behavior.
Did You Know?
- XRP Exchange-Traded Fund (ETF): An XRP ETF is a type of investment instrument that enables investors to buy and sell shares representing a stake in XRP, the native cryptocurrency of the Ripple network. ETFs are traded on traditional stock exchanges, providing enhanced accessibility to retail investors averse to navigating the complexities of purchasing and storing cryptocurrencies directly.
- Solana (SOL): Solana is a high-performance blockchain network supporting smart contracts, facilitating the creation of decentralized applications (dApps). With its capability to handle substantial transaction volumes at low latency and minimal fees, Solana presents an attractive platform for developers and users. The proposition of its potential inclusion in a future ETF indicates a growing trust and prominence within the traditional financial landscape.
- Ethereum Price Forecast: Standard Chartered's anticipation of Ethereum reaching $8,000 by the close of 2024 rests on the premise of persistent growth in the demand for Ethereum and its ecosystem. This upsurge is attributed to the expanding adoption of decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other applications built on the Ethereum network. If the adoption and utility of Ethereum continue to proliferate, its value may indeed surge to this level. Nevertheless, it is crucial to acknowledge the high volatility and susceptibility to various market and regulatory risks associated with cryptocurrency prices.