On Thursday at the Consensus 2024 conference in Austin, Texas, Ripple CEO Brad Garlinghouse shared his thoughts on the future of cryptocurrency ETFs in the United States.
Given the recent approval of Bitcoin's spot #Etf and the progress of the US Securities and Exchange Commission's approval process for Ethereum's spot Etf, Garlinghouse is confident that he will continue to invest in a variety of popular #altcoins .
He believes that spot #xrp , Solana (SOL) and #Cardano (ADA) ETFs are just around the corner and that "it's only a matter of time before there will inevitably be XRP ETFs, Solana ETFs and Cardano ETFs, and that's great. ""
This prediction follows the surprise promotion of the #StartInvestingInCrypto Etf spot, which recently received approval from the U. S. Securities and Exchange Commission (SEC) via a 19b-4 filing. While final approval is still pending, these developments mark important milestones on the crypto industry's path to mainstream acceptance. Katie Wood, CEO of ARK Invest, noted during the meeting that the pending approval of Etf spot Ethereum was influenced by the growing importance of cryptocurrencies as an election theme.
Despite the optimism surrounding these developments, Garlinghouse acknowledged that there are significant regulatory hurdles that have yet to be overcome. He called them "obstacles to acceleration" and expressed confidence that, despite the challenges, they are not insurmountable.
Garlinghouse also expressed frustration with the current regulatory environment in Washington, criticizing what he sees as a lack of clarity on the part of the SEC, and said that SEC Chairman Gary Gensler was unwilling to clarify whether Ethereum is considered a security, despite Gensler's assertion that the existing rules are clear and sufficient.
Garlinghouse said the United States ranks low in terms of regulatory clarity despite being the world's largest economy.
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