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), particularly regarding the launch of ETFs for other cryptocurrencies. Ripple’s CEO, Brad Garlinghouse, has expressed his optimism about the approval of an XRP ETF in the USA.
Garlinghouse is also hopeful that ETFs for other prominent altcoins, such as Solana (SOL) and Cardano (ADA), will be approved. He made these statements during the Consensus 2024 conference, which took place against a backdrop 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 represents a significant change and evolution. Garlinghouse believes that it is only a matter of time before an XRP ETF, a Solana ETF, and a Cardano ETF are approved, and he sees this as a positive development.
However, Garlinghouse acknowledged that there may be scrutiny and challenges in the approval process for these ETFs. He referred to these obstacles as mere “speed bumps” on the path to getting the products approved.
In a noteworthy 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 specifically discussed the potential for an ETF in the United States.
During the conference, Garlinghouse emphasized the importance of diversification in cryptocurrency investments. He advised investors to create a balanced portfolio by investing in a variety of cryptocurrencies, rather than limiting themselves to just one.
It is important to note that the views expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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