The post Matt Hougan Shares the Timeline for Solana and XRP ETF appeared first on Coinpedia Fintech News
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, expressed a bullish outlook on Bitcoin ETF inflows for the second half of 2024 despite market volatility. He noted that while there is current fear sentiment, historical trends suggest that pullbacks, especially those seen in summer, often present buying opportunities rather than indicators of long-term decline. Hougan believes with newly approved ETH ETFs and many in lines like Solana and XRP, the market will be shining in Q2.Â
Hereâs his insight!
Market Vibes are Positive for ETFs!
During an interview with Thinking Crypto, Matt Hougan pointed out that the buzz about a potential spot Ethereum ETF approval has put some positive energy into the market. He explained that although the idea of an ETF hasnât fully sunk in with everyone, recent events suggest that we might be headed towards the trillion-dollar industry and ETFs can be a game changer.Â
Numbers are High
Hougan predicted that once launched in the U.S., spot Ethereum ETFs could attract $15 billion in net inflows within their first 18 months. The SEC approved 19b-4 forms for eight spot Ethereum ETFs from companies like Bitwise, BlackRock, and Fidelity on May 23, but the S-1 registration statements must become effective before trading can start, expected to happen in a few weeks.
Timeline for Solana and XRP ETF
Moving on Hougan analyzed Solana and XRP ETFâs future, Hougan suggested that launching futures on platforms like CME or significant legislative advancements could be necessary, with a timeline potentially extending into 2025-2027.
On the flip side, GSR, a leading crypto market maker, predicts Solana (SOL) as a strong candidate for ETF approval due to its solid decentralization and market demand, surpassing Cardano (ADA) and Rippleâs XRP.Â
Current Scenario
The report claims that Solanaâs upcoming Firedancer client and robust market performance demonstrate high investor confidence. GSRâs analysis ranks Ethereum highest for ETF approval, followed by Solana and NEAR Protocol. Solanaâs price could increase significantly post-ETF approval, ranging from 1.4x to 8.9x. VanEckâs Solana spot ETF filing highlights its growing institutional appeal.
Overall, Hougan sees the SECâs approval of spot Ether ETFs as a positive step. As the crypto community awaits regulatory changes, Hougan believes there is great potential for crypto adoption once these legal uncertainties are resolved.
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