The recent approval of Ether exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) has ignited a wave of optimism in the cryptocurrency industry. Ripple CEO Brad Garlinghouse is at the forefront of this enthusiasm, predicting the “imminent” launch of ETFs for XRP, Solana, and Cardano.
“It’s just a matter of time,” Garlinghouse declared, acknowledging the past regulatory hurdles that delayed the approval of both Spot Bitcoin and Ether ETFs. He downplays these challenges as “speed bumps” on the road to inevitable ETF launches for other major cryptocurrencies.
This development is particularly exciting for Ripple, as Garlinghouse explicitly stated the platform’s openness to XRP ETFs. He envisions a future with multiple cryptocurrency ETFs, offering investors “diversified risks” within the crypto market.
However, Garlinghouse isn’t shy about criticizing the lingering regulatory uncertainties in the U.S. He points to the ambiguity surrounding the classification of Ether itself, highlighting SEC Chair Gary Gensler’s refusal to definitively label it as a security. This lack of clarity, Garlinghouse argues, contradicts Gensler’s insistence on clear and sufficient regulations.
Industry experts echo Garlinghouse’s sentiment. Analysts, including Geoffrey Kendric of Standard Chartered, predict the introduction of XRP and Solana ETFs by 2025, building on the momentum created by the Ether ETF approval.
The future of cryptocurrency ETFs seems bright, with Ripple and other major players poised to benefit from a more open and regulated market. While acknowledging potential delays, Garlinghouse’s optimism reflects the growing confidence within the industry that these long-awaited instruments are finally on the horizon.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. www.chainaffairs.com is not responsible for any financial losses.
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