According to banking giant Standard Chartered, an XRP exchange-traded fund could be thrown out in the United States next year.
According to banking giant Standard Chartered, an XRP exchange-traded fund could be thrown out in the United States next year.
When asked about the possibility of launching an ETF for the XRP cryptocurrency in January, BlackRock CEO Larry Fink said he couldn’t talk about it.
Tomiwabold Olajide
Fox Business also reported that BlackRock had no intention of launching an ETF for the Ripple-affiliated cryptocurrency.
BlackRock’s Robert Mitchnick has also confirmed that the global asset management company has very little enthusiasm for altcoins.
However, Ripple CEO Brad Garlinghouse said altcoin-based XRP seemed “inevitable.” He said the company would welcome such a product for XRP.
Notably, a bipartisan group of House lawmakers recently sent a letter to SEC Chairman Gary Gensler urging the agency to approve ETFs for Ethereum, as well as “other” digital assets. Prominent ETF analyst Eric Balchunas recently said that he wouldn’t be surprised if ETF issuers “exploited the SEC’s vulnerability” to introduce products for all types of altcoins.
Will Solana also be next?
As Guru-Investingreported, a CNBC contributor recently predicted that Solana could be the next altcoin to get its own ETF after Ethereum.
Alex DovbnyaStandard Chartered appears to be on the same page, suggesting that the popular “Ethereum killer” could also be a possible ETF candidate, along with XRP.
Sky-high price targets
Standard Chartered correctly predicted that the price of Ethereum would reach $4,000 following the approval of the Ethereum ETF.
Earlier this week, the leading altcoin rose to $4,095 on Bitstamp following SEC approval.
The SEC gave the green light to several ETFs on Thursday by approving 19b-4 listing applications.
However, the Ethereum ETF will not begin trading until the approval of its S-1 registration statements.
Standard Chartered has predicted that the price of Ethereum could end up reaching $8,000 by the end of the year.
