Ripple CEO Speculates on XRP, Solana, and Cardano ETFs
Ripple CEO Brad Garlinghouse recently shared his optimism about the possibility of XRP, Solana, and Cardano becoming the next cryptocurrencies to have exchange-traded funds (ETFs) available on the market. Garlinghouse’s positive outlook is driven by recent developments in the regulatory landscape, particularly the approval of spot Bitcoin ETFs and progress toward Ethereum ETFs by the US Securities and Exchange Commission (SEC).
Will XRP, Solana, and Cardano Be the Next ETFs?
- Garlinghouse believes the approval of Bitcoin and Ethereum ETFs sets a precedent for broader acceptance of crypto ETFs in the financial sector.
- He expressed confidence that XRP, Solana, and Cardano ETFs are inevitable and would be beneficial for diversifying investment portfolios.
“I think itβs just a matter of time, and itβs inevitable thereβs gonna be an XRP ETF, thereβs gonna be a Solana ETF, thereβs gonna be a Cardano ETF, and thatβs great,” Garlinghouse stated.
- Brian Kelly, CEO of BKCM, also shares enthusiasm for the approval of spot Ethereum ETFs potentially leading to more crypto ETFs, including Solana.
- However, challenges remain for XRP due to Ripple’s ongoing legal battle with the SEC, casting doubt on its immediate ETF viability.
Regulatory Hurdles and Skepticism Surround Future Crypto ETFs
- Nikolaos Panigirtzoglou from JPMorgan expressed skepticism about the SEC approving crypto ETFs beyond Bitcoin and Ethereum, citing regulatory ambiguity.
- He believes legislative changes may be necessary for broader ETF approvals, especially regarding classification of cryptocurrencies as securities.
“We doubt. The decision by the SEC to approve ETH ETFs is already stretched given the ambiguity about whether Ethereum should be classified as a security or not,” Panigirtzoglou stated.
- The recent approval of spot Ethereum ETFs has injected new energy into the crypto market, but potential issuers are awaiting final SEC approval before trading begins.
- Ethereum ETFs are of particular interest due to the PoS mechanism used by Ethereum, allowing validators to earn staking rewards.
Future of Crypto ETFs Amid Evolving Regulatory Environment
- As the regulatory landscape continues to shift, the potential for new crypto ETFs remains a hot topic within the industry.
Hot Take: Stay Tuned for XRP, Solana, and Cardano ETF Developments
Keep an eye on the evolving regulatory environment as XRP, Solana, and Cardano navigate the path toward potential ETFs. The industry is buzzing with speculation and anticipation, with the future of crypto ETFs hanging in the balance.
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