Geoffrey Kendrick, the Head of Forex and Digital Assets Research at Standard Chartered Bank, recently shared his belief that cryptocurrency exchange-traded funds (ETFs) for coins like Solana (SOL) and XRP could be approved by the year 2025.

The recent approval of Ethereum (ETH) spot ETFs by the U.S. Securities and Exchange Commission (SEC) is seen as a significant shift in the regulator's stance towards cryptocurrencies. Kendrick emphasized that the SEC's decision to approve ETH ETFs suggests that similar cryptocurrencies may not be classified as securities, stating, "The core technology is so similar to ETH it would be difficult for the SEC to claim they were securities given the ETH position."

The approval of ETH ETFs is expected to attract institutional inflows, with Kendrick predicting between $15 billion to $45 billion within the first year of trading. This influx of funds could positively impact the market dominance of Bitcoin (BTC) and Ethereum, potentially trickling down to other cryptocurrencies as well.

Kendrick remains bullish on the future of crypto ETFs, forecasting that Bitcoin prices could reach $150,000 by the end of 2024 due to strong inflows from spot BTC ETFs. He also stands by his earlier projection of Ethereum reaching $8,000 by the end of the current year.

While the immediate focus is on Ethereum, Kendrick believes the market will anticipate the eventual ETF status for other cryptocurrencies, such as Solana and XRP. However, he suggests that this is more likely to happen in 2025 rather than 2024, indicating that regulatory clarity and market readiness are crucial factors in the approval process.

Kendrick emphasizes that bipartisan political support for cryptocurrency in the U.S. will be a significant milestone, as it is expected to lead to further regulatory changes and a more defined, crypto-friendly framework. The approval of ETH spot ETFs signals a more progressive approach by the SEC, potentially paving the way for the approval of other major cryptocurrencies like XRP and SOL in the near future.

In conclusion, the predictions made by Standard Chartered's Geoffrey Kendrick highlight the evolving regulatory landscape and growing institutional interest in digital assets. As the years progress and institutional demand increases, mainstream financial markets are likely to become more accommodating of cryptocurrencies, with the potential for XRP and Solana ETFs to emerge by 2025.