- Ripple CEO Brad Garlinghouse anticipates ETFs for various cryptos beyond Bitcoin.
- Garlinghouse criticizes SEC, citing Bitcoin ETF approval due to court intervention.
- Ripple’s legal victory against the SEC marks a significant milestone for the company.
In a recent CNBC interview, Ripple CEO Brad Garlinghouse expressed certainty about the emergence of spot exchange-traded funds (ETFs) for cryptocurrencies beyond Bitcoin. Garlinghouse specifically highlighted the likelihood of an Ethereum (ETH) ETF and others, although he refrained from specifying a timeframe.
While acknowledging the recent approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC), Garlinghouse underscored that the approval only materialized due to a court intervention, labeling it a necessity. He expressed hope that other cryptocurrencies wouldn’t encounter similar regulatory hurdles and emphasized the potential for various ETFs in the future.
Garlinghouse criticized the SEC’s approach, citing a court’s intervention as a reminder of regulatory inconsistencies. He suggested that the SEC, under Gary Gensler’s leadership, might face challenges in maintaining such an approach, expressing optimism for change when new leadership takes over.
Ripple, under Garlinghouse’s leadership, has faced regulatory confrontations, notably with the SEC. In a significant legal victory for Ripple Labs last year, a U.S. judge ruled that the retail sales of XRP tokens did not constitute a security offering. This decision marked a pivotal moment for Ripple in its ongoing legal battles with the regulatory agency.
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Garlinghouse’s comments reflect a broader industry sentiment anticipating the expansion of cryptocurrency ETFs, signaling a potential shift in regulatory dynamics that could impact various digital assets beyond Bitcoin.
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