• Analyst Godfrey Kendrick predicts potential XRP ETF approval by the SEC in 2025.

  • Analyst predicts potential XRP ETF approval in 2025. Ethereum ETFs may attract $15B-$45B in the first year. Bipartisan support boosts crypto regulations.

  • Kendrick estimates Ethereum ETFs could attract $15B-$45B within their first year.

  • Bipartisan support for FIT21 signals a shift towards favourable U.S. crypto regulations.

The cryptocurrency industry is eagerly awaiting news of whether an XRP ETF will be approved by the US Securities and Exchange Commission (SEC), following the approval of spot-based Ethereum ETFs. Analysts like Godfrey Kendrick are keeping a careful eye on regulatory signals in order to predict whether other big crypto assets will also receive similar authorization.

Standard Chartered analyst Geoffrey Kendrick said that cryptocurrency ETFs such as SOL and XRP may be approved in 2025, and the approval of the ETH ETF means that ETH and similar cryptocurrencies will not be classified as securities. Trading in the ETH ETF is expected to begin…

— Wu Blockchain (@WuBlockchain) May 24, 2024

After the SEC recently gave the green light to Ethereum ETFs, Kendrick believes that an XRP ETF might be approved as early as 2025. He dismisses concerns that the ongoing legal dispute between the SEC and Ripple could impede the approval of the XRP ETF, arguing that Ethereum’s designation as a non-security by the SEC provides optimism for other altcoins with comparable features.

A good example of the growing bipartisan endorsement for the cryptocurrency business is the FIT21 bill, which Kendrick observes received strong support from both Republicans and Democrats. There may be a change towards more favourable regulatory conditions for cryptocurrencies in the US as a result of this bipartisan cooperation.

Kendrick predicts that recently authorized Ethereum ETFs could garner $15 billion to $45 billion in their first year of operation. Although the spot ETFs’ files have been approved by the SEC, trading in the US market has not yet begun. This is because the associated S-1 filings still need to be approved, which analysts predict may be prolonged.

Along with his predictions on ETF rules, he also projects that Ethereum’s price would hit $8,000 by the year’s end. The cryptocurrency sector is on high alert as a result of these developments, and experts like Kendrick are offering helpful insights on regulatory deadlines, market implications, and future prospects of major crypto assets.

There are still a lot of unanticipated factors but according to Kendrick’s analysis, the industry could be headed in a positive direction in the next few years owing to more investment from institutions and favourable legal conditions for cryptocurrencies.

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The post From Ethereum to XRP, Are ETH and XRP Prices Primed to 10x and 100x After SEC ETF Approvals? appeared first on Crypto News Land.