Ripple CEO Brad Garlinghouse is optimistic about the potential launch of ETFs for XRP, Solana, and Cardano, following the SEC’s approval of Ethereum ETFs. Garlinghouse acknowledges that the same regulatory hurdles faced by Bitcoin and Ethereum ETFs could apply to these new ETFs as well, but he believes that overcoming these obstacles is only a matter of time.
Garlinghouse describes the regulatory challenges and delays as mere “speed bumps” in the adoption of cryptocurrencies. He expresses confidence that XRP, Solana, and Cardano ETFs will eventually be approved, which he believes would be a significant positive step for the cryptocurrency market. By offering investors the opportunity to diversify their risks and attracting more participants to the market, ETFs based on various cryptocurrencies would play a crucial role in its growth.
During an interview, Garlinghouse states that Ripple is open to the launch of XRP ETFs. However, he expresses concerns about the uncertainties surrounding the classification of Ethereum as a security. He highlights the significant impact of regulatory uncertainties in the United States on the cryptocurrency market and criticizes regulatory authorities like SEC Chairman Gary Gensler for failing to provide clear guidance on the matter.
Despite the challenges, experts like Geoffrey Kendric from Standard Chartered predict that XRP and Solana ETFs could be launched after 2025. The approval of Ethereum ETFs has sparked speculation about the potential launch of similar products for other cryptocurrencies, indicating the increasing acceptance and integration of crypto assets in traditional financial markets.
While Garlinghouse remains optimistic about the future of XRP, Solana, and Cardano ETFs, the realization of such a step will depend on the applications submitted by companies. Currently, there are no applications for these ETFs, as companies are currently focused on spot Ethereum ETFs.
The dynamics of the cryptocurrency market could lead to the introduction of ETFs for other cryptocurrencies in the future. If these initiatives come to fruition, it would be a significant milestone in the adoption of certain cryptocurrencies that are considered securities.
Please note that the information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research.
