Ripple CEO Brad Garlinghouse has expressed his confidence in the potential launch of ETFs for XRP, Solana, and Cardano, following the SEC’s approval of Ethereum ETFs. While Garlinghouse acknowledged that these new ETFs may face similar regulatory challenges as Bitcoin and Ethereum ETFs, he believes that overcoming these obstacles is only a matter of time.
Garlinghouse described the regulatory challenges and delays as mere “speed bumps” in the adoption of cryptocurrencies. He firmly believes that the eventual approval of XRP, Solana, and Cardano ETFs would be a significant positive step for the cryptocurrency market. In an interview, Garlinghouse highlighted Ripple’s openness to the launch of XRP ETFs, emphasizing the benefits of offering investors the opportunity to diversify their risks and attract more participants to the market.
However, Garlinghouse expressed concerns about the uncertainties surrounding the classification of Ethereum as a security. He criticized regulatory authorities, including SEC Chairman Gary Gensler, for not providing clear guidance on the matter. Garlinghouse stated that these regulatory uncertainties in the United States have a significant impact on the cryptocurrency market.
Despite the challenges, experts like Geoffrey Kendric from Standard Chartered expect the launch of XRP and Solana ETFs after 2025. The recent approval of Ethereum ETFs has sparked speculation about the potential launch of similar products for other cryptocurrencies, indicating the growing 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 ultimately depends on the applications submitted by companies. Currently, there are no applications for these ETFs, as companies are primarily focused on spot Ethereum ETFs.
The dynamics of the cryptocurrency market could pave the way for the launch of other crypto ETFs in the future. If these initiatives come to fruition, it would be a significant milestone for 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 risks associated with cryptocurrencies and should conduct their own research.
