Kendric, a Standard Chartered Analyst, noted that BTC and ETH will maintain dominance, but other cryptocurrencies could gain ETF traction.
He emphasized, “For other coins (eg. SOL, XRP), markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story, not a 2024 one.”
Standard Chartered Analyst on Crypto ETF Potential
This insight illuminates the changing cryptocurrency investment landscape and regulatory influence on market dynamics. Moreover, Bernstein, in a note on Thursday, suggested Ethereum’s commodity classification could lead to token-focused ETFs.
Ethereum’s commodity status sets a regulatory precedent, potentially enabling similar investment vehicles. Solana stands out as a promising candidate for future ETFs, alongside other prominent assets like XRP. Solana’s popularity and advancements position it for institutional investment and mainstream adoption.
As Kendric noted, “For now, bitcoin and ether dominance will rise, with selective ‘next in line’ winners as well,” indicating a shifting landscape where alternative cryptocurrencies could play a more prominent role in investment portfolios.
More About Crypto ETFs
ETFs have acquired a staggering 566,000 BTC, equivalent to 2.7% of the total supply of Bitcoin that will ever exist, all within a span of just four months. This rapid accumulation highlights the growing institutional interest and investment in Bitcoin, underscoring its emergence as a mainstream asset class.
The significant influx of BTC into ETFs underscores the increasing recognition of Bitcoin’s value proposition and its role as a store of value among institutional investors, marking a pivotal moment in the evolution of the crypto market.
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