Which Could Be Next Spot ETF Candidate: XRP Or SOL?
By:W, LeahLast week, the wole crypto industry is loomed by hot discussion about Ethereum ETFs. On May 23, the Securities and Exchange Commission finally gave the green light to the listing and trading of eight spot Ether exchange-traded funds, representing a big victory for the crypto industry.
The recent approval of Ethereum ETFs by the United States Securities and Exchange Commission (SEC) has led to greater enthusiasm in the crypto market, triggering a domino effect that could benefit other altcoins such as Ripple (XRP) and Solana (SOL). At present, industry leaders and crypto enthusiasts are already wondering which cryptocurrency could be next spot ETF candidate.
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Next Spot ETF Candidate: XRP Or SOL
There are all kinds of opinion about next spot ETF candidate. Among them, XRP and SOL are regarded by most experts and analysts as the most likely candidate for next spot ETF.
According to Standard Chartered analyst Geoffrey Kendric, “for other coins (eg. SOL, XRP), markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story, not a 2024 one.” “For now, Bitcoin and Ether dominance will rise, with selective “next in line” winners as well.”
While several industry experts have suggested that SOL would be a logical choice for a third ETF, given its similarities to Ethereum.
Brokerage firm Bernstein said in a note on Thursday that given Ethereum’s classification as a commodity, the token could follow a similar path. While Solana is the third biggest cryptocurrency after Bitcoin and Ethereum by market cap. This is excluding stablecoin Tether (USDT) and Binance Coin (BNB).
While according to well-known crypto strategist Nick, an XRP ETF could be on the horizon. He revealed several factors signaling a promising future for Ripple’s native token, including the trend of tokenizing real-world assets (RWA), Ripple’s anticipated initial public offering (IPO), the emergence of a Ripple-backed stablecoin, and regulatory clarity on institutional sales of XRP, etc.
Experts Kendrick expects the approval of ETH ETFs to bring heavy institutional capital into the space, possibly benefiting other coins such as XRP.
Besides, according to a poll conducted by Ripple validator, 65% respondents believe XRP ETF is likely in 2025.
While XRP holders attention has shifted to the likelihood of an XRP ETF approval by 2025, however, hurdles on the way to an XRP ETF. Ripple’s ongoing legal battle with the SEC casts uncertainty, the community awaits a ruling in the SEC vs. Ripple lawsuit.
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Final thoughts
The SEC’s approval of the Ethereum spot ETF signifies a significant regulatory milestone, opening the door for similar recognition of altcoins like XRP and SOL. With institutional interest in digital assets growing, the prospects of crypto ETFs are promising. However, Will XRP or SOL be the next big ETF play? We still need to wait as crypto industry is full of uncertainties!
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The following sets forth the guidance for trading futures on cryptocurrency exchange BTCC:
Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.
Step Two: on the BTCC official homepage, choose “Deposite” > “Fiat Deposit”, and then fund your account.
Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the crypto trading pair.
Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.
- Market Order: users place orders at the best price in the current market to achieve fast trading.
- Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
- SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.
Step Five: adjust the leverage multiple.
Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.
Step Six: choose the lot size and set the SL/TP price .
Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.
Step Eight: click the buy or sell button, and the crypto futures contract order is completed.
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Why we recommend you to start your trading journey from BTCC sets as below:
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BTCC attaches great importance on security. Since founded in 2011, BTCC has never been hacked or been a victim of any other kind of successful malicious attack, which fully illustrates its security capabilities. Through measures like segregation of assets, 1:1 storage of users’ assets, money laundering prevention and identity authentication and no collateralising tokens for loans, BTCC enjoys good reputation in asset security.
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Charging high fees means less return for investors. Compared with other major exchanges, BTCC only charges 0.06% for both takers and makers, which are far below the industry average. According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is 0.2294% and the maker fee is 0.1854%.
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In addition to the major digital currencies like BTC, ETH, BCH, LINK, LTC, ADA, DOT, EOS, XRP, and UNI, investors can also trade DASH, DOGE, SHIB, FIL, XLM, XMR, GRT, RNDR, EGLD, and KLAY on BTCC. BTCC offers flexible leverage up to 150x across daily and perpetual contract types, supporting a wide range of popular trading pairs such as BTC/USDT, ETH/USDT, ADA/USDT.
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