JPMorgan Chase expects that potential Solana (SOL) and XRP exchange-traded funds (ETFs) might see multi-billion greenback inflows.
VanEck’s head of digital asset analysis Matthew Sigel stories on the social media platform X that JPMorgan says SOL and XRP ETFs might entice as much as $16 billion in complete.
“SOL & XRP exchange-traded merchandise (ETPs) Might Entice $3-8bn Every: JPM
ETP property ($108bn) make up 6% of the entire Bitcoin market cap ($1,874bn) after the ETPs’ first yr of buying and selling; likewise, ether ETP property ($12bn) have a 3% penetration charge of the entire Ethereum market cap ($395bn) inside its first 6 months since launch.
When making use of these so-called “adoption charges” to SOL and XRP, we see SOL attracting roughly $3-6bn of latest web property and XRP gathering $4-8bn in web new property.”
Final yr, the chief government of VanEck stated {that a} Solana ETF might solely be potential if the Republicans received the US Presidential Election.
And final winter, Ripple CEO Brad Garlinghouse stated it “is smart” for an XRP ETF to finally be authorised.
“I believe it is smart that there shall be different ETFs. It’s form of just like the earliest days of the inventory market – you don’t actually need publicity to 1 inventory, or one firm, you need to sometimes take into consideration diversifying threat and what have you ever. I believe we’ll see different [crypto] ETFs.
After we will see them is difficult to foretell. The unhappy actuality of what we noticed with the Bitcoin ETF is [it happened] solely as a result of the courts pressured the SEC’s hand, and actually [SEC Chair] Gary Gensler’s hand.”
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