JPMorgan Sees Opportunity in Ripple and 1 Altcoin: They Could Surpass Ethereum if Approved - Coin Bulletin

JPMorgan, the banking giant, stated that it could attract significant investments if ETP approval is received for two altcoins.

In JPMorgan's report dated January 13, it was predicted that Solana and Ripple ETPs could outperform spot Ethereum (ETH) ETFs in the first six months of their trading. The report included the following statements:

When these so-called 'adoption rates' are applied to SOL and XRP, we see that SOL will attract approximately 3 to 6 billion dollars in net assets, while XRP will collect new assets ranging from 4 to 8 billion dollars.

These predictions follow the first anniversary of US spot Bitcoin ETFs. As of January 2, spot Bitcoin ETFs reached a total accumulated asset amount of 110 billion dollars.

Are New Heights Coming for the Altcoin Market?

New crypto-based ETFs can push the prices of the altcoins they are based on to all-time highs.

After the launch of Bitcoin ETFs, these products constituted 75% of the total investment in Bitcoin within one month and played a significant role in reaching the price to $50,000.

However, the JPMorgan report emphasized that similar performance is not guaranteed due to the fluctuating nature of altcoin demand.

SEC Decisions are Approaching

The Securities and Exchange Commission (SEC) is expected to make a decision on Solana ETF applications by the end of January.

Grayscale, VanEck, 21Shares, Bitwise, and Canary Capital are among the major asset managers that have applied for Solana ETF. The deadline for Grayscale application is January 23, while for other applications it is set as January 25.

Alejo Pinto, the founder of Lumio, the Solana Layer-2 network, stated that a possible ETF approval could have a significant impact on Solana prices.

An ETF approval in the US, being considered unlikely, is not currently reflected in the prices. Therefore, it can create a positive price impact.