Brad Garlinghouse, CEO of Ripple, predicts that Ethereum (ETH) ETFs will be a huge success, stressing the importance of providing multiple ETFs for altcoins.
During a recent appearance on Fox Business, Garlinghouse made a strong case in favor of creating exchange-traded funds for altcoins, noting that investors do not want to rely on just one commodity.
Among what he stated:
If you have exposure to gold, you may want exposure to silver.
You do not want to have exposure to one type of asset.
He also stated that XRP was previously the second largest digital currency by market capitalization, but now ranks eighth with a market value of about $29 billion, adding that this decline occurred before the Securities and Exchange Commission (SEC) allocated ETH ETFs.
Garlinghouse stated during his speech at the consensus conference that approval of the XRP ETF is inevitable.
He also expected the launch of similar funds for Solana (SOL) and Cardano (ADA).
He pointed out that the possibility of the SEC opposing the XRP ETF due to legal disputes with Ripple would be a difficult argument to win, explaining by saying:
They made life difficult for many people, but they lost in court.
Garlinghouse emphasized that the sudden approval of Ethereum ETFs is a big deal because it further opens up the markets to investors who want to access cryptocurrencies.
He expected these products to perform very well once they are launched, pointing to the great success achieved by Bitcoin ETFs
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