The market welcomed the SEC's historic approval of spot Ethereum ETFs, and attention is now shifting to other altcoin ETFs. Standard Chartered analyst Geoffrey Kendrick suggested that additional crypto ETFs could be approved in 2025. Speaking with The Block, Kendrick noted that cryptocurrencies like Solana (SOL) and XRP might receive approval after Ethereum ETFs.

He stated that the approval of spot Ethereum ETFs indicates that ETH is not classified as a security by the SEC, implying that other cryptocurrencies similar to ETH, which have been scrutinized in cases like XRP, might also not be considered securities.

Kendrick argued that the core technologies of some altcoins are so similar to ETH that it would be challenging for the SEC to classify them as securities. He also mentioned that the cryptocurrency industry seems to have political support from both major parties.

Kendrick reaffirmed his predictions of $150,000 for Bitcoin and $8,000 for ETH, stating that a portfolio with both BTC and ETH ETFs is likely appealing and further validated by the SEC's decision on ETH.