JPMorgan Chase believes that exchange-traded Solana ETFs (ETFs), such as XRP, could receive multi-billion-dollar inflows.
Matthew Sigel, VanEck’s director of digital asset analysis and research, reports that JPMorgan believes SOL ETFs and XRP could bring in up to 16 billion dollars.
JPM: “SOL & XRP ETPs could attract $3-8 billion each”
ETP assets ($108bn), after their first year in trading, make up 6 percent of total Bitcoin’s market capitalization ($1,874bn). Similarly, the ether ETP asset ($12bn), has a penetration rate of 3% of total Ethereum’s market capitalization ($395bn), within the first six months of its launch.
“When applying these so called “adoption rate” to SOL or XRP we find that SOL attracts roughly $3-6bn new net assets, and XRP gathers $4-8bn new net assets.”
VanEck’s chief executive said last year that an ETF for Solana would only be feasible if Republicans win the US Presidential Election.
Brad Garlinghouse, Ripple’s CEO Brad Garlinghouse, said last winter that it was “logical” to approve an ETF for XRP.
“It makes perfect sense to me that other ETFs will exist. This is similar to the early days of stock markets – when you didn’t want to be exposed to just one stock or company. You wanted to diversify your risk. I believe we’ll see more [crypto] exchange-traded funds.
It is difficult to say when we’ll see these things. It is sad to say that the Bitcoin ETF was only possible because of the SEC and Gary Gensler. .”
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The report JPMorgan Chase predicts that XRP and Solana ETFs will attract up to $8,000,000 each may change as new information becomes available.
