In a latest interview discussing the emergence of Ripple and Solana, 21Shares CEO Hany Rashwan mentioned which crypto may very well be subsequent in line for an ETF. Rashwan was featured on the Paul Barron community, the place he talked concerning the potential of each belongings, and their significance to crypto transferring ahead.
Spot Ethereum ETFs debuted this week, after months of anticipation. With Bitcoin changing into the primary crypto-based exchange-traded product in January, the 2 belongings present a promising future for institutional funding within the house. Now, all eyes are on which may very well be subsequent.
21Shares CEO Talks ETF Potential for Ripple and Solana
To this point, 2024 has been a large yr for crypto. The mainstream adoption of the asset class has been plain, with Bitcoin and Ethereum setting a brand new customary. Now, the crypto market is what belongings might be part of them atop the whole business. One distinguished govt mentioned the 2 hottest choices.
With dealer curiosity in Ripple and Solana exploding, 21Shares CEO Hany Rashwan talked concerning the ETF potential for each. The agency had beforehand filed for a SOL ETF earlier this yr. Asset supervisor VanEck was the one different agency to reflect that submitting.
Rashwan mentioned that the agency’s itemizing utility portrays “how bullish we’re and the way we take into consideration that asset.” Though he couldn’t present a timetable for its potential approval, he did say SOL operates on “partially the identical thesis” as Ethereum. Due to this fact, it ought to obtain comparable approval for an ETF.
The 21Share govt additionally famous there’s potential for “sensible contract platforms to in the future exceed Bitcoin.” Certainly, he famous the ceiling on BTC as it’s synonymous with gold. Nonetheless, that doesn’t apply to the opposite “magnificent seven,” crypto belongings.
The choice to use for Solana over Ripple is because of SOL’s similarities to Ethereum. “Generally it may be simpler to make a case for an asset that’s aggressive with an already permitted crypto, relatively than beginning a brand new asset from scratch.”
That line of pondering clearly reveals 21Shares’ perception that Solana is subsequent in line for an ETF. That product is more likely to arrive sooner or later in 2025. Nonetheless, it doesn’t discredit Ripple’s possibilities. The corporate is at the moment embroiled in a lawsuit with the SEC. But, a settlement does open the door for an ETF within the close to future.
