JPMorgan Chase expects potential exchange-traded funds (ETFs) Solana (SOL) and XRP could see multibillion-dollar inflows.
Matthew Sigel, VanEck’s head of digital assets research, reports on social media platform
“SOL and XRP exchange-traded products (ETPs) could attract $3-8 billion each: JPM
ETP assets ($108 billion) represent 6% of the total Bitcoin market cap ($1,874 billion) after the first year of ETP trading; similarly, Ether ETP assets ($12 billion) have a penetration rate of 3% of the total Ethereum market cap ($395 billion) in the first 6 months after launch.
Applying these so-called “adoption rates” to SOL and XRP, we see SOL attracting approximately $3-6 billion in net new assets and XRP collecting $4-8 billion in net new assets.
Last year, VanEck’s chief executive said a Solana ETF would only be possible if Republicans won the US presidential election.
And last winter, Ripple CEO Brad Garlinghouse said it “made sense” that an XRP ETF would ultimately be approved.
“I think it makes sense that there are other ETFs. It’s a bit like the early days of the stock market: you don’t really want to have exposure to one stock or company, you generally want to think about risk diversification and so on. I think we will see others [crypto] ETFs.
It’s hard to predict when we’ll see them. The sad reality of what we saw with the Bitcoin ETF is [it happened] only because the courts forced the SEC’s hand, and really [SEC Chair] The hand of Gary Gensler.
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