In the ever-changing world of cryptocurrencies, there has been a lot of speculation surrounding the approval of Bitcoin and Ethereum exchange-traded funds (ETFs) and the potential launch of ETFs for other cryptocurrencies. Ripple CEO Brad Garlinghouse has expressed his optimism about the approval of an XRP ETF in the United States. He also believes that ETFs for other important altcoins, such as Solana (SOL) and Cardano (ADA), will also be approved. Garlinghouse made these statements during the Consensus 2024 conference, which took place in a time of shifting regulatory perspectives in the industry.
During his speech, Garlinghouse criticized the Securities and Exchange Commission (SEC) for the lack of regulatory clarity and opaque policies in the current environment. He stated, “The US, being the largest economy in the world, falls in the bottom decile of regulatory clarity.”
Despite the challenges faced by the industry, the recent approval of Ethereum ETFs in the US signifies a significant change and evolution. Garlinghouse expressed his belief that it is only a matter of time before there is an XRP ETF, a Solana ETF, and a Cardano ETF. He sees these developments as positive for the industry.
However, Garlinghouse acknowledged that the approval process for these ETFs may face scrutiny. He referred to these challenges as mere “speed bumps” on the path to approval.
During a discussion at the Paris Blockchain Week, Garlinghouse and David Bchiri, CEO of Xrpl Commons, focused on the future of XRP and its position in the cryptocurrency market. They particularly discussed the potential for an ETF in the US. Garlinghouse advised diversification in cryptocurrency investments, emphasizing the importance of investing in a basket of cryptocurrencies rather than limiting oneself to a single one.
Please note that the views expressed in this article are for informational purposes only and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.