REX-Osprey’s Solana ETF launched on July 2, with SOL now the third crypto asset to have a spot ETF in the US after Bitcoin and Ethereum. Bloomberg analysts Eric Balchunas and James Seyffart have now suggested that an XRP ETF could be the next to launch.
XRP ETF Next As Solana ETF Goes Live
In an X post, Bloomberg analyst James Seyffart suggested that an XRP ETF may be next following the launch of a Solana ETF. This is based on Seyffart and his colleague Eric Balchunas’ prediction that the XRP fund has a 95% chance of approval this year. They had also predicted that a SOL ETF had a 95% chance of approval and that this fund has now launched.
Although not through the conventional structure, REX-Osprey launched the first Solana staking ETF on July 2. This is simply a spot SOL ETF, which will also provide staking rewards to investors. Additionally, the Grayscale Digital Large Cap Fund, which also had a 95% approval odds, has also been approved by the SEC, which puts the XRP ETF in pole position to be next.
Following the approval order for the conversion of Grayscale’s fund into an ETF, market expert Nate Geraci declared that a spot XRP ETF is up next for the SEC’s approval. He predicts that other altcoin ETFs for Cardano and Litecoin will also get the nod from the commission. However, based on Seyffart and Balchunas’ prediction, a Litecoin ETF is the only one that could come before an XRP ETF.
The approval odds for a Litecoin ETF also stand at 95%. Furthermore, the final SEC deadline for the LTC ETF is October 2, just days ahead of the XRP ETF’s final deadline, which is October 17.
Traders Expect XRP ETF Next
Polymarket data shows that traders are expecting an XRP ETF before a Litecoin ETF or any other altcoin ETF. Data from the prediction market shows that there is an 87% chance that the XRP fund gets approved by December 31. On the other hand, there is an 86% chance the SEC will approve an LTC ETF by year-end.
Other altcoin ETFs have lower odds of approval by year-end. Seyyfart and Balchunas predicted that there is a 90% chance that Cardano, Dogecoin, Hedera, Avalanche, and Polkadot ETFs get approved this year. Polymarket traders say that there is an 83% and 76% that the Commission approves an ADA and DOGE ETF, respectively.
Meanwhile, Ripple’s decision to drop the cross-appeal against the SEC and potentially end the XRP lawsuit is another reason why experts like Geraci are confident that an XRP ETF will come soon.
At the time of writing, the XRP price is trading at around $2.26, up over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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