- Ripple CEO, Brad Garlinghouse, forecasts XRP, SOL, and ADA to spearhead the next wave of crypto ETFs.
- Regulatory progress, exemplified by Bitcoin and Ethereum ETF approvals, lays groundwork for XRP, SOL, and ADA ETFs.
- Despite hurdles like Ripple’s legal battles, industry leaders anticipate a transformative future for crypto ETFs.
The discourse of developing exchange-traded funds (ETFs) is picking up footing. At Consensus 2024, Ripple CEO Brad Garlinghouse voiced positive statement that XRP, Solana (SOL), and Cardano (ADA) can be the taking after crypto ETF.
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Garlinghouse’s great confidence is fortified by the SEC’s approval of a Bitcoin and Ethereum ETF, which builds up a point of reference that can be utilized to other cryptocurrencies. Garlinghouse expressed that this is only a matter of time and cannot be anticipated. He believes there will be XRP ETFs, Solana ETFs, and Cardano ETFs, which is amazing.
This planned move might advance incorporate cryptocurrencies into the financial mainstream, providing investors with more venture alternatives whereas lowering risk exposure.
While hope persists, the way to creating this new ETF has not been without challenges. Ripple is now locks in in a legal fight with the SEC, putting doubt on the prospect of an XRP ETF in the near future.
Meanwhile, according to Asymmetric CEO Joe McCan, Solana is a possible candidate for the next ETF approval. This is supported by the Solana factor which has good performance
However, pessimism about the approaching bitcoin ETF remains, especially among individuals like Nikolaos Panigirtzoglou, global market strategist at JPMorgan. Panigirtzoglou questioned the SEC’s willingness to endorse ETFs other than Bitcoin and Ethereum, citing administrative vulnerability and the current debate over whether certain cryptocurrencies qualify as securities.
Garlinghouse also addressed what he perceived as a lack of regulatory stability in Washington. According to Garlinghouse, SEC Chairman Gary Gensler has been subpoenaed to Congress, and when questioned if ether is a security, Gensler declined to answer.
Meanwhile, in response to the present complicated regulatory climate in the United States, Ripple is strategically expanding its foreign recruiting, with considerable growth in London, Geneva, and Singapore.
In the ever-evolving crypto industry, the future of XRP, SOL, and ADA as potential ETFs appears promising. Despite regulatory challenges, optimism persists among industry leaders like Brad Garlinghouse. The groundwork laid by recent Bitcoin and Ethereum ETF approvals signals a potential breakthrough for these cryptocurrencies. While hurdles remain, the prospect of integrating XRP, SOL, and ADA into mainstream finance bodes well for investors seeking diversified opportunities.
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