Following the recent approval of ether spot exchange-traded funds, Standard Chartered Bank analyst Geoffrey Kendrick says that the next chapter of crypto ETFs may be around the corner in 2025.

"For other coins (eg. SOL, XRP) markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story not a 2024 one," Kendrick, head of forex and digital assets research at Standard Chartered Bank, said Friday in a statement to The Block.

The approval of ether spot ETFs on Thursday suggests that ETH is not classified as a security by the SEC, thereby implying that other ETH-like coins, which were previously under scrutiny in cases such as the 2023 XRP case, may also not be considered securities, according to Kendrick.

"In several cases the core technology is so similar …