XRP & Solana ETFs Will Underperform Bitcoin ETFs
JP Morgan researchers claimed in a report released on Monday that XRP ETFs could attract $3 to $6 billion in investment, while Solana products could attract between $4 and $8 billion. However, they stated that vehicles for top altcoins would still fall far short of Bitcoin exchange-traded products, or ETPs.
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The report stated, “Given their altcoin status, we believe [Solana and XRP ETFs] will match, if not fall below, Ethereum ETP expectations and that Bitcoin remains the favored crypto token to trade and own both in spot and ETP form.”.
Even if Solana and XRP funds WERE approved, they would still manage a few billion dollars worth of assets, which is far less than what Bitcoin did
Several asset managers have submitted documentation for XRP and Solana cryptocurrency funds, including Bitwise, VanEck, and Grayscale.
BlackRock’s iShares Bitcoin Trust, the largest cryptocurrency investment vehicle, reached $50 billion in assets in its first year, it would likely be impossible to match the success of the Bitcoin ETFs, which were introduced in January after receiving approval from the SEC to trade on stock exchanges. XRP and Solana rank third and sixth in market value, respectively. Ethereum and Bitcoin are ranked first and second, respectively.
Ethereum ETFs entered the market last year, and have performed far worse than their highly sought-after Bitcoin counterparts.
Additionally, the analysts at JP Morgan stated that “trendy new coins that may garner incremental attention for a limited time and fluctuating investor sentiment are the main drivers of the crypto market’s episodic nature.”. “
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