Ripple CEO predicts arrival of XRP, Solana and Cardano ETFs

Now that Ethereum (ETH) spot Exchange-Traded Funds (ETFs) have been approved in the United States, speculation is rife about which cryptocurrency will be next for such a fund.

Ripple CEO Brad Garlinghouse has now joined the discussion, predicting the inevitable adoption of ETFs for XRP, Solana (SOL) and Cardano (ADA).

More crypto ETFs coming?

At Consensus 2024, one of the largest and most influential annual crypto conferences, Garlinghouse spoke about whether more altcoins will get their own US spot ETF in the future.

Garlinghouse is very positive and believes that the US Securities and Exchange Commission (SEC) will allow more spot ETFs for crypto coins in the future. “I think it’s just a matter of time, and inevitably there’s going to be an XRP ETF, there’s going to be a Solana (SOL) ETF, there’s going to be a Cardano (ADA) ETF, and that’s great,” he said.

According to Garlinghouse, who has been Ripple’s CEO since 2016, the process of approving these new altcoin ETFs could be challenging but he sees these as temporary hurdles that will be overcome.

Last week you could also read that the British megabank Standardared Chartered shares the same expectations. Specifically, analyst Geoffrey Kendrick predicted that the SEC will approve ETFs for Solana and XRP by 2025.

Frustration with crypto regulations

During the crypto event, Garlinghouse also expressed, not for the first time, his frustration with the lack of clarity and consistency in US crypto regulations, specifically from the SEC.

He criticizes SEC head Gary Gensler for not providing answers to obvious questions, such as whether ether is a security, despite multiple calls for clarification from Congress. Also under attack is Gensler’s position that the current rules are clear and do not need adjustment.

Last week, the new FIT21 crypto legislation was passed in the House of Representatives, which should put an end to the unclear crypto regulation in the United States.

The legislation should provide clarity for the classification of cryptocurrencies as securities or digital commodities and give more authority to the Commodity Futures Trading Commission (CFTC).

Of course, the big question remains whether the law will survive the Senate and will actually be introduced.

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