Ripple CEO Brad Garlinghouse has expressed confidence that XRP exchange-traded funds (ETFs) will be approved in the United States, citing the recent approval of Ethereum ETFs by the Securities and Exchange Commission (SEC). He believes that this approval marks a significant milestone in the development of the crypto market and that other major cryptocurrencies like Solana and Cardano will also have their ETFs approved in the near future.
Garlinghouse's optimism stems from the fact that the SEC has shown a willingness to approve ETFs for digital assets, starting with spot Bitcoin ETFs and now Ethereum ETFs. He believes that this trend will continue, paving the way for other cryptocurrencies to gain regulatory approval for ETFs.
The approval of Ethereum ETFs has been seen as a significant breakthrough in the crypto market, as it marks the first time that a major cryptocurrency has been given the green light for a spot ETF. This approval has been seen as a major step forward in the development of the crypto market, as it allows institutional investors to gain exposure to Ethereum without having to hold the underlying cryptocurrency directly.
Garlinghouse believes that the approval of XRP ETFs is inevitable given the SEC's recent actions. He notes that the regulatory body has shown a willingness to approve ETFs for digital assets and that XRP is a well-established and widely traded cryptocurrency that is well-positioned to benefit from this trend.
In addition to XRP, Garlinghouse also believes that Solana and Cardano will have their ETFs approved in the near future. He notes that these cryptocurrencies have strong fundamentals and are well-positioned to benefit from the growing demand for digital assets.
The approval of ETFs for these cryptocurrencies would be a significant step forward for the crypto market, as it would allow institutional investors to gain exposure to these assets without having to hold them directly. This could lead to increased liquidity and trading volumes, which could in turn drive up the value of these cryptocurrencies.
Overall, Garlinghouse's comments suggest that the approval of XRP, Solana, and Cardano ETFs is inevitable given the SEC's recent actions and the growing demand for digital assets. This could have significant implications for the crypto market, as it would allow institutional investors to gain exposure to these assets and drive up their value.
