u.today
According to analytics firm Kaiko, $XRP is positioned to be the next altcoin to get its own exchange-traded fund (ETF) in the U.S.
The firm has noted that $XRP and $SOL stand out as the most likely candidates to get such a product.
At first glance, it might seem like $SOL has an edge over the Ripple-affiliated token.
As reported by U.Today, mutual fund behemoth Fidelity officially joined the Solana ETF race last year. Furthermore, CME rolled out regulated $SOL futures throughout the month, which was deemed to be a major milestone for the altcoin.
However, according to Kaiko, $XRP might have the upper hand due to its soaring market depth, which has now surpassed that of $SOL.
Following the massive rally that took place in the fourth quarter of 2024, the token's spot volume has now increased dramatically.
Moreover, the first leveraged $XRP ETF successfully launched in the U.S. in April.