Ripple CEO Predicts Other Crypto ETF Approval by the US SEC

banner-image

Ripple CEO, Brad Garlinghouse, has made a bold prediction at the Consensus 2024 conference that the U.S. Securities and Exchange Commission (SEC) will approve exchange-traded funds (ETFs) for Ripple (XRP), Solana (SOL), and Cardano (ADA) in the near future. This announcement comes a few days after the SEC greenlighted spot Ethereum (ETH) ETF approval. 

Ripple CEO Stance on Crypto ETF

Garlinghouse prediction of other cryptocurrencies following suit with their ETFs underscores the maturation of the market and the growing acceptance of digital assets in mainstream finance. He argues that as the cryptocurrency market matures, the SEC is more likely to recognize the benefits of diversified crypto investment vehicles like ETFs. 

These ETFs could provide a structured and regulated way for investors to gain exposure to the volatile yet lucrative crypto market, enhancing its credibility and accessibility. Garlinghouse believes that XRP, Solana, and Cardano are strong candidates for ETF inclusion due to their significant market capitalization, robust ecosystems, and active communities.

Ripple CEO Foresee Expansion in ETF Market

In February, Garlinghouse expressed his enthusiasm towards the prospect of an XRP ETF, foreseeing a broader trend of cryptocurrency ETFs gaining traction in the market. An ETF for XRP would provide investors with a regulated and accessible avenue to gain exposure to the digital asset, further legitimizing its place in traditional financial circles. 

Notably, the prospect of an XRP comes when regulatory clarity surrounding cryptocurrencies is improving. By offering a regulated investment vehicle, Ripple aims to attract a range of investors, including institutional players who may be hesitant to directly invest in cryptocurrencies due to regulatory uncertainties or operational complexities. 

Brain Kelly also Spark Speculation on spot ETF Approval

Meanwhile, Garlinghouse’s prediction aligns with Brian Kelly’s prediction. In an interview, the founder and CEO of BKCM LLC suggested that Solana could be the next cryptocurrency to receive approval for a spot ETF. Kelly highlighted Solana’s impressive technological advancements and growing ecosystem as key factors that could make it a strong candidate for ETF approval.

He also pointed out that Solana’s transparent development team and its proactive approach to regulatory compliance could help gain the necessary approvals. Recall that in January, Franklin Templeton, a prominent trillion-dollar asset management firm, also stirred speculation within the cryptocurrency community regarding the possibility of a Solana ETF. Franklin specifically lauded the Solana network’s achievements and advancements in its public acknowledgment.

June 16, 2024

Ethiopia is now looking to regulate crypto platforms operating in the..

June 16, 2024

As the FTX bankruptcy case moves to its end, three entities..

June 16, 2024

Curve Finance founder Michael Egorov has finally cleared the air on..

ads-image ads-image