While altcoins such as Solana (SOL), Litecoin (LTC) and XRP are the biggest candidates for spot ETFs in the USA after Bitcoin and Ethereum, there are two spot ETF applications for Solana.
While market analysts predict that spot ETF approval will come for other altcoins, including SOL, in the future, 21Shares CEO talked about the possibility of spot Ripple ETF.
Speaking to YouTube channel Paul Baron Network, 21Shares co-founder and CEO Hany Rashwan said that he is optimistic about launching a spot Ripple (XRP) ETF.
He said the launch of the spot XRP ETF, following the US federal court's ruling that XRP is not a security, is in line with 21 Shares' global vision.
At this point, the CEO signaled that 21 Shares may apply for a spot XRP ETF in the future.
Stating that his company has conducted many studies on XRP, Hany Rashwan said, “most of these studies show that XRP has great potential as an investment tool.”
“I would say the Spot XRP ETF is absolutely part of our vision and goals, not just in the Americas but globally.”
Why Was Solana (SOL) Selected for ETF?
While 21Shares has not yet filed with the SEC for a spot XRP ETF, RashWan said they filed for a SOL ETF after ETH, citing Solana's similarities to Ethereum as a strategic advantage for regulatory approval.
“21 Shares chose SOL over XRP due to the similarities between Solana and Ethereum.
Ethereum and Solana are quite similar in many ways. “Sometimes, it can be easier to make a case for an asset that is compatible with an already approved crypto (Ethereum) rather than starting a new asset from scratch.”
*This is not investment advice.
