Standard Chartered Projects Timeline for XRP ETF Approval

Geoffrey Kendrick, a seasoned analyst at Standard Chartered, speculates that the highly anticipated XRP ETF could launch in 2025, a year from now.

Following the approval of multiple spot-based Ethereum ETFs, there have been several speculations regarding when the SEC could approve a similar product for other crypto assets, like XRP. 

XRP ETF Could Be Approved in 2025 

Interestingly, Standard Chartered analyst Geoffrey Kendrick asserted that an ETF for XRP could be a 2025 story. This implies that Kendrick expects the SEC to approve an ETF for XRP next year. 

Kendrick, who is the current head of forex and digital assets research at Standard Chartered, made this known in a statement making rounds on X. 

Notably, he expects the regulatory agency to also approve an ETF for Solana (SOL), the fifth-biggest cryptocurrency by market capitalization. 

Like ETF, XRP Isn’t a Security 

The Standard Chartered expert dismissed concerns regarding the Ripple lawsuit impacting the potential approval of an XRP ETF. 

According to Kendrick, the approval of Ethereum ETFs suggests that the regulator does not consider ETH to be a security. He added that the decision also indicates that other altcoins akin to ETH that are currently under regulatory scrutiny, including XRP, will not also be categorized as securities. 

The Standard Chartered analyst contended that it would be difficult for the SEC to give the securities tag to XRP and other altcoins, whose core technologies are similar to Ethereum. 

Crypto Now Has Bipartisan Political Support 

Kendrick also commented on the significance of the pro-crypto FIT21 legislation, which saw 71 Democrats cross party lines to support it. 

According to him, the move suggests bipartisan political support for the crypto industry. Furthermore, the analyst projected that it is a matter of time before the U.S. crypto industry sees more favorable regulatory changes. 

Ethereum ETF Inflow Could Reach $45B in 12 Months

Regarding the recently approved Ethereum ETFs, Kendrick projected that these products could register inflows to the tune of $15 billion to $45 billion in their first 12 months of trading. 

Notably, despite the SEC’s approval, Ethereum spot ETFs have not commenced trading in the United States. This is because the SEC only approved exchanges’ 19b-4 filings for spot ETFs. However, the S-1 filings for these funds are yet to be approved, with experts projecting that the regulator could delay its decision on the documents.  

Meanwhile, he projected that the price of ETH could spike to $8,000 by year end. Kendrick’s prediction marks a surge of 115.22% from the current price of $3,717.