Ripple CEO Believes Other Cryptos Will Follow Bitcoin’s Path to ETFs
Brad Garlinghouse, the CEO of Ripple Labs, is confident that other cryptocurrencies will eventually have spot exchange-traded funds (ETFs) like Bitcoin (BTC). In an interview with CNBC, Garlinghouse stated that it is a “certainty” that there will be ETFs for Ethereum (ETH) and other cryptos in the future.
However, Garlinghouse also expressed his concerns about the regulatory hurdles faced by cryptocurrencies. He mentioned that the BTC ETF was only approved because a court compelled the U.S. Securities and Exchange Commission (SEC) to do so. He hopes that other cryptos don’t have to go through the same challenges.
Ripple Labs has had its own legal battles with the SEC, with a judge ruling in their favor last year regarding XRP token sales. Garlinghouse believes that a change in leadership at the SEC could benefit the American people.
Hot Take: More Cryptos Likely to Join the ETF Club
Ripple CEO Brad Garlinghouse is optimistic about the future of cryptocurrency exchange-traded funds (ETFs), stating that it is inevitable for other cryptocurrencies to follow in Bitcoin’s footsteps. While he acknowledges the regulatory challenges faced by crypto assets, he hopes that they won’t have to go through the same legal battles as Bitcoin did. Garlinghouse’s confidence in the potential for ETFs for Ethereum and other cryptos reflects a growing acceptance of digital currencies in traditional financial markets. As the cryptocurrency industry continues to evolve and gain mainstream recognition, it is likely that more cryptos will join the ETF club in the future.
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