While the SEC's historic approval of spot Ethereum ETHs was welcomed by the market, eyes now turn to other altcoin ETFs.
At this point, Standard Chartered analyst Geoffrey Kendrick claimed that other crypto ETFs could gain approval in 2025.
Speaking to The Block, Standard Chartered analyst Geoffrey Kendrick argued that other ETFs other than Ethereum could receive approval in 2025.
At this point, Kendrick argued that after Ethereum ETFs, other cryptocurrencies such as Solana (SOL) and XRP may also receive approval in 2025, and made the following statements.
“The approval of Spot Ethereum ETFs shows that ETH is not classified as a security by the SEC, so other ETH-like coins that have previously been under scrutiny in cases like the XRP case may not be considered securities either.
In a few cases, the core technologies of some altcoins are so similar to ETH that it would be difficult for the SEC to argue that they are securities, given the classification of ETH.
“The cryptocurrency industry now appears to have political support on both sides of the aisle.”
Stating that his predictions of $150,000 for Bitcoin and $8,000 for ETH are valid, Kendrick said, “A portfolio that includes both BTC and ETH ETFs is probably attractive, and the sector is further confirmed by the SEC's decision on ETH.”
*This is not investment advice.
