Ripple’s CEO, Brad Garlinghouse, envisions the future arrival of exchange-traded funds (ETFs) for cryptocurrencies other than bitcoin and ether. This expectation arises in light of the U.S. Securities and Exchange Commission’s (SEC) recent approval of spot bitcoin and ethereum ETFs. Speaking at the Consensus 2024 event, Garlinghouse confidently stated, “I firmly believe it’s only a matter of time before we witness the emergence of an XRP ETF, a solana (SOL) ETF, and a cardano (ADA) ETF, and I think that would be fantastic.” Garlinghouse recognizes that the journey towards regulatory approval for these crypto ETFs will be arduous. He expresses disappointment in the lack of regulatory clarity from Washington, particularly emphasizing SEC Chair Gary Gensler’s hesitancy to explicitly classify ether as a security, despite asserting that the guidelines are unambiguous. Garlinghouse concludes by emphasizing the critical importance of establishing the correct regulatory framework in the United States.
