Now that the Securities and Exchange Commission (SEC) has granted approval for Ethereum exchange-traded funds (ETFs), it may consider authorizing other crypto ETFs as well.

Standard Chartered, a British multinational bank, suggests that Ripple’s XRP and Solana (SOL) could be the next candidates for crypto ETFs after Ethereum. However, the bank believes that the launch of SOL and XRP ETFs is more likely to occur in 2025 rather than in 2024.

Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, stated, "For other coins like SOL and XRP, markets will anticipate their eventual ETF status, but this is probably a 2025 development, not one for 2024." He added, "For now, dominance will remain with bitcoin and ether, with select winners potentially following."

The recent approval by the SEC for eight Ethereum ETFs marks a significant milestone, indicating that Ethereum is not considered a security by the SEC. This decision suggests that other tokens similar to Ethereum may also avoid being categorized as securities.

SEC Chairman Gary Gensler has previously asserted that most coins and tokens, excluding Bitcoin, are securities. Solana and XRP have faced legal action from the SEC over allegations of being unregistered securities.

Standard Chartered views the SEC's recent approval as a pivotal moment and predicts further regulatory changes in the crypto industry.

The bank maintains its earlier forecast of Ethereum reaching $8,000 per coin by the end of the year. Analysts anticipate the trading of Ethereum ETFs to commence next month, potentially attracting $15-$45 billion within the first year.

However, the launch of ether ETFs depends on the approval of S-1 registration statements, which have only been submitted by a few potential issuers so far.

Standard Chartered continues to anticipate a $150,000 price target for Bitcoin by year-end, considering the ongoing influx of investments into spot Bitcoin ETFs. The bank believes that a portfolio containing both Bitcoin and Ethereum ETFs would be attractive, further validating the crypto industry following the SEC's decision regarding Ethereum.