Following the approval of Ethereum spot ETFs, Standard Chartered Bank analyst Geoffrey Kendrick predicts that the next phase of cryptocurrency ETFs could occur in 2025, The Block has reported.
According to Kendrick, other coins such as SOL and XRP will also eventually be considered for ETF status, but this is more likely to happen in 2025 rather than 2024.
He believes that the SEC's decision to approve spot Ethereum ETFs is a sign that these coins may also not be classified as securities in the future.
Kendrick also noted that the crypto sector now has the support of both political parties in the U., signaling an important moment in the sector's growth.