New Data Indicates Unlikelihood of Ripple XRP and Cardano ETF

Despite traders’ hopes, it is unlikely that Ripple (XRP) and Cardano (ADA) ETFs will be realized in the short term. GSR has released a new report that includes its ETF probability scores, which assess the likelihood of cryptocurrencies having their own exchange-traded funds.
The new data takes into account both the decentralization of tokens and the demand for investment products. Subsequently, the report has increased interest in Solana ETFs but has cast doubt on other well-known digital assets.
Source: CoinWorld
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Data shows that XRP and ADA are unlikely to get ETFs soon
This year, Bitcoin and Ethereum have both received the first batch of cryptocurrency-based ETFs in the United States. Although the latter has not yet launched, both have indicated a significant step forward for the industry in the country. Now, traders are focusing on the current cryptocurrency pool and waiting for the next assets.
Despite Ripple (XRP) and Cardano (ADA) being popular choices, a new report suggests that they are unlikely to get ETFs soon. Instead, data shows that Solana is the next one, apparently ranking alongside ETH and BTC as the top three in the market.
Source: NewsBTC
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When analyzing decentralization, GSR gave XRP and Cardano scores of -0.9 and -0.1 respectively. The data shows that these assets rank third from the bottom among the cryptocurrencies observed by the company. From the perspective of demand, these indicators have not become more encouraging.
The report points out that higher demand in the near future is a better indicator for ETFs. However, the demand scores for XRP and ADA are -0.2 and -0.5 respectively. Similarly, this puts them at the bottom of the pool.
According to GSR, Solana is the next one. Their data shows that SOL “significantly outperforms the second-ranked digital asset and is the only digital asset, apart from Ethereum, that scores positively in terms of decentralization and demand.”