JPMorgan: XRP and Solana ETF Approval May Attract Up to $13.6 Billion in Funds in the First Year

JPMorgan: XRP and Solana ETF Approval May Attract Up to $13.6 Billion in Funds in the First Year

JPMorgan: XRP and Solana ETF Approval May Attract Up to $13.6 Billion in Funds in the First Year

According to a report by The Block, analysts at JPMorgan believe that if the new Solana and XRP exchange-traded funds (ETFs) are approved, they could attract up to $13.6 billion in funding within the first 6 to 12 months.

According to a research report shared with The Block by JPMorgan on Tuesday, analysts estimate that Solana-related fund products could attract $2.7 billion to $5.2 billion, while an XRP ETF could bring in $4.3 billion to $8.4 billion, depending on regulatory progress and investor interest.

Issuers such as VanEck, 21Shares, Bitwise, WisdomTree, and Canary Capital are planning to launch ETFs for various altcoins later this year. However, analysts point out that “applications submitted for tokens like SOL, XRP, HBAR, Litecoin (LTC), etc…. have not received much attention from the SEC,” but the new SEC chairman may provide confirmation within the next three to six months.

While the introduction of SOL and XRP funds is a significant positive for their respective ecosystems, JPMorgan analysts expect that the impact of the “next wave of cryptocurrency” ETFs will not be as significant as the first wave, and the demand will be limited compared to Bitcoin and Ethereum fund products.

Related report: “Bloomberg ETF analyst predicts more cryptocurrency ETF approvals next year.”