As the approved Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) are finally revitalizing the cryptocurrency market, changes in the perspective towards crypto are also raising curiosity. However, the uncertainty regarding cryptocurrency regulations continues as President Joe Biden vetoed the removal of SEC's SAB 121 policy that he promised. Meanwhile, debates are ongoing about whether ETFs for other altcoins will enter the market or not. One of the prominent figures contributing to these debates is Ripple CEO Brad Garlinghouse. Garlinghouse believes that ETFs will also be implemented for XRP, ADA, and SOL. Here are the details...

Ripple CEO made critical statements: XRP, ADA, SOL get green light

In this uncertain environment, Ripple remains steadfast. The company's recent $25 million investment in Fairshake underscores that commitment. Ripple CEO Brad Garlinghouse said the following on the subject in an interview at the Consensus 2024 conference:

When it comes to the cryptocurrency market, it is important for the US to be competitive in terms of policy and regulation environment. However, SEC and its chairman Gary Gensler sometimes create market confusion by filing cases that contradict each other.

Garlinghouse points out that politicians who operate with outdated policies may be in a difficult situation in a changing financial environment that includes cryptocurrencies. In the interview, Garlinghouse also discussed the possibility of an ETF for leading cryptocurrencies such as Solana (SOL), Cardano (ADA), and of course XRP. According to the executive:

XRP ETF, Solana ETF, Cardano ETF will also come. It is inevitable and only a matter of time.

Is XRP ETF possible?

Ripple CEO Brad Garlinghouse is not the only one who has mentioned the possibility of an XRP ETF. Just recently, on CNBC's "Fast Money" program, Brian Kelly sparked the discussion by pointing to Solana as the next cryptocurrency that could have a spot ETF in the US. ARK Invest CEO Cathie Wood also echoed similar thoughts, highlighting that the approval of a Bitcoin ETF has now become a matter of choice for cryptocurrencies.

These developments indicate that the US is taking significant steps towards the adoption of cryptocurrencies despite the restrictions imposed by the SEC. This is especially important in the context of the upcoming presidential elections. Garlinghouse also supports Wood's words as follows:

I wasn't surprised that cryptocurrencies became the subject of presidential elections.

What will happen in the future?

Beyond political interests, Ripple CEO Garlinghouse believes that Gensler's misleading regulatory approach is unfair to the cryptocurrency market. He also argues that the lack of regulatory clarity in the US poses a significant barrier to entry for both institutions and individuals in the emerging crypto asset market. Garlinghouse concludes his remarks as follows:

It is crucial for the US to develop smart rules for cryptocurrencies and catch up with other leading economies.

This news raises expectations for XRP ETF while also fueling debates about the future of the cryptocurrency market. The uncertainty in the US perspective on cryptocurrency is expected to continue until the elections.

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