Solana
XRP, Solana and Cardano ETFs are all ‘inevitable’ – Ripple’s Garlinghouse
- Ripple CEO criticized the SEC and called for clear US crypto regulations.
- Many expect Solana and XRP to join the crypto ETF train soon
In the spotlight Ethereum [ETH] ETFs were finally approved recently, but there has been a lot of discussion surrounding the SEC’s changing attitude towards crypto. However, with President Joe Biden veto After SEC Policy SAB 121 was repealed as promised, things look quite uncertain at the moment.
Ripple’s step towards crypto adoption
Despite the challenges and anti-crypto sentiments, Ripple A $25 million investment in Fairshake highlights its commitment to advancing the adoption of crypto and blockchain.
Reflecting on the same thing, Ripple CEO Brad Garlinghouse in a recent interview during the 2024 Consensus noted,
“It is important that the United States be competitive when it comes to the policy and regulatory environment in all things crypto. However, the SEC and Gensler have caused confusion by filing lawsuits that sometimes even contradict each other.
In his remarks, Garlinghouse pointed out that politicians with outdated policies might not be accepted in an evolving financial landscape that includes crypto.
Is an XRP ETF on the horizon?
Garlinghouse then discussed the potential for an ETF for every major cryptocurrency such as Solana [SOL], Cardano [ADA]and of course, XRP.
According to the executive,
“I think it’s just a matter of time, and it’s inevitable that there will be an XRP ETF, there will be a Solana ETF, there will be a Cardano ETF, and that’s great.”
Garlinghouse is not alone in suggesting this possibility, however. Most recently, CNBC’s “Fast Money” trader Brian Kelly sparked a debate on X by suggesting that Solana [SOL] could be the next cryptocurrency to have a spot ETF in the United States.
Cathie Wood, CEO of ARK Invest, echoed similar sentiments after noting that the approval of Ether ETFs means crypto has become an election issue.
The role of crypto in the US elections
These developments mean that despite the SEC’s excesses, the United States has taken great steps towards crypto adoption. Especially in the context of the upcoming presidential elections.
In fact, Garlinghouse agreed with what Wood said, stating:
“Seeing crypto become a presidential topic is no surprise to me.”
Beyond political interest, the Ripple CEO also believes that the SEC has been unfair to the crypto industry, criticizing Gensler’s misguided regulatory approach. Furthermore, he believes that the lack of regulatory clarity in the United States poses a significant barrier to the entry of institutions and individuals into the emerging digital asset market.
The executive concluded with declaring,
“It is essential that the United States catches up with other leading economies and develops sensible (and CLEAR) rules for crypto.”