XRP Grayscale Fund to Launch Before Solana ETF, Says Nate Geraci

Highlights

Nate Geraci projects XRP Grayscale Fund's approval ahead of SOL ETF.
The SEC has requested Solana ETF issuers to submit amended S-1 forms.
Both XRP and SOL ETFs have high odds of approval.

As the crypto industry is abuzz with anticipations of altcoin ETF approval, ETF Store President Nate Geraci made a bold prediction on the XRP Grayscale fund. In his recent X post, Geraci forecasted that a Grayscale fund with XRP exposure might receive SEC approval ahead of Solana ETFs, signaling a potential shift in the market.

Solana ETF May Wait: XRP Fund Approval on the Horizon?

According to Nate Geraci, the Grayscale Digital Large Cap Fund (GDLC) ETF is likely to be the next in line for approval from the US SEC. This paves the way for increased exposure to assets like XRP and Cardano (ADA).

Interestingly, Geraci projects that Grayscale’s XRP fund will be approved ahead of the Solana ETF. This comes amid the SEC’s recent progress in the SOL ETF approval. As CoinGape reported, the SEC asked SOL ETF issuers to submit amended S-1 forms, fueling expectations of an imminent approval.

However, Geraci’s prediction gains momentum considering the US SEC’s recent move. The commission approved a mixed fund from Hashdex and Franklin Templeton. This fund offers exposure to Bitcoin and Ethereum, setting a precedent for similar index products. This development has significantly bolstered Geraci’s projection.

In addition, the increasing odds of XRP ETF have also contributed to boosting the projection. As per Polymarket, the odds of the Solana ETF approval in 2025 are currently at 90%, aligning with Bloomberg’s prediction.

The predicted odds for XRP ETF approval are 85% according to analysts Eric Balchunas and James Seyffart. However, the Polymarket odds stand slightly higher at 87%. While both XRP and Solana ETFs have high approval odds, the momentum appears to be shifting in favor of the XRP Grayscale fund

What is Grayscale’s GDLC?

Notably, the Grayscale ETF GDLC is a multi-asset fund featuring XRP, ADA, and other cryptocurrencies. This investment vehicle also provides access to a broad range of top assets like Bitcoin, Ethereum, and Solana. The fund is currently allocated as follows: BTC (78.77%), ETH (12.40%), XRP (4.86%), SOL (3.04%), and ADA (0.93%), with a market price of $47.44, reflecting a 14% monthly gain and 11% year-to-date increase.

XRP Grayscale Fund Approval Predicted — Source X, Grayscale Digital Large Cap Fund

XRP Fund Takes Centre Stage, Why?

Significantly, the XRP Grayscale fund is gaining momentum as a potential candidate for SEC approval, as predicted by Nate Geraci. Given the current market anticipations surrounding the altcoin ETFs’ approval, Geraci’s prediction is particularly noteworthy.

In April, Grayscale submitted an S-3 filing to the US SEC, aiming to transform its $800 million fund into an ETF. Though the fund’s current allocation is heavily weighted towards Bitcoin and Ethereum, if approved, it will grant investors easier access to multiple assets. This could potentially drive increased institutional investment and market growth.

The approval of the XRP Grayscale fund would be a significant milestone for the crypto market, as it would mark a major step towards mainstream acceptance and accessibility of digital assets beyond BTC and ETH. Through a regulated and diversified investment vehicle, the fund may bring increased investment flows and market stability. This development would underscore the growing recognition of crypto as a legitimate asset class, paving the way for further innovation and growth in the industry.

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Nynu V Jamal

Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape. Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master's degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet. Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn

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