Ripple CEO Brad Garlinghouse Shares Optimistic Views on ETFs for Cryptocurrencies like XRP, Solana, and Cardano
Garlinghouse’s Views on Crypto ETFs
Brad Garlinghouse, speaking at the Consensus 2024 conference, expressed his belief that after the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs, it could also lead to the creation of ETFs for assets like XRP, Solana, and Cardano. Progress in Ethereum ETFs is among the factors strengthening this expectation.
Garlinghouse’s Assessment
Garlinghouse stated, “I think it’s just a matter of time before there will be an XRP ETF, a Solana ETF, a Cardano ETF, and that’s great.” He particularly believes that the approval of Bitcoin ETFs could increase the acceptance of crypto assets in the financial sector.
Views of Other Industry Experts
There are other experts who share Garlinghouse’s enthusiasm, but there are differing opinions on which cryptocurrencies could be accepted as ETFs.
Brian Kelly and Interest in Solana
Brian Kelly, CEO of digital currency investment firm BKCM, suggested that the approval of spot Ethereum ETFs could also open the door for assets like Solana. Kelly noted that Solana has received significant interest, particularly from the traditional finance sector.
Regulatory Hurdles
However, it is also true that the path to an XRP ETF is fraught with difficulties. Ripple’s ongoing legal battle with the SEC could negatively impact this process. Similarly, there may be obstacles for other crypto assets to become ETFs.
Conclusion and Future Expectations
The future of crypto ETFs remains uncertain, depending on the regulatory environment and the decisions of the SEC. JPMorgan and other experts express doubts about the SEC approving ETFs for crypto assets other than Bitcoin and Ethereum. Therefore, broader legal changes may be required for the introduction of new crypto ETFs to the market.
The Role of the Regulatory Environment
Experts like Felix Mohr emphasize that companies launching blockchain-based financial products need a strong legal strategy. The development of the regulatory environment in the US can either facilitate or complicate the acceptance of crypto assets as ETFs.
In short, the topic of crypto ETFs remains an important development to be closely followed by both investors and the cryptocurrency industry.
