JPMorgan believes Solana and XRP ETPs could attract $15 billion in net inflows

According to a JPMorgan estimate, exchange-traded products (ETPs) for XRP and Solana (SOL) could attract net inflows of over $15 billion.

Matthew Sigel, head of digital assets research at VanEck, divided that the forecast takes into account the performance of Bitcoin (BTC) and Ethereum (ETH) relative to their market capitalization and ETP flows.

Bitcoin ETPs reached $108 billion in assets in their first year of trading, representing 6% of BTC’s total $1.8 trillion market cap. Similarly, Ethereum ETPs achieved a 3% penetration rate in six months and accumulated $12 billion in assets, compared to ETH’s $395 billion market cap.

Using these adoption rates as a benchmark, SOL could see inflows between $3 billion and $6 billion, while XRP could attract between $4 billion and $8 billion.

ETFs are not close

According to a recent report from CoinShares, ETPs tied to Solana have nearly $1.6 billion in assets under management (AUM).. XRP products now have assets worth $910 million.

Meanwhile, net inflows for their ETPs in 2024 reached $438 million and $69 million, respectively.

Although allowing exchange-traded funds (ETFs) indexed to both assets could increase their total assets under management, the chances of such an outcome are currently slim in the US.

Bloomberg ETF analysts James Seyffart and Eric Balchunas recently highlighted that President-elect Donald Trump’s administration might favor new permits.

However, ETFs tied to Litecoin (LTC) and Hedera (HBAR) are more likely to be approved first. LTC is a fork of Bitcoin, meaning it is likely to be classified as a commodity, while HBAR has never been targeted by regulators and is unlikely to be classified as a security.

SOL and XRP are now treated differently. The US Securities and Exchange Commission (SEC) recently rejected Solana-linked ETFs while Ripple Labs is still fighting with regulators over whether XRP should be considered a security.

Although Bloomberg analysts predict a wave of new ETFs this year, XRP and SOL products could face delays.

Mentioned in this article