Ripple CEO Says Bitcoin ETF Approval Signals Crypto ETFs

Ripple CEO Says Bitcoin ETF Approval Signals Crypto ETFs


  • Brad Garlinghouse, the CEO of Ripple, expects the introduction of exchange-traded funds (ETFs) for other cryptocurrencies, not limited to Bitcoin
  • Garlinghouse condemns the SEC, pointing out that the approval of a Bitcoin ETF was only granted due to judicial action
  • Ripple's triumph in the legal battle against the SEC is noteworthy for the corporation

During a recent CNBC interview, Ripple CEO Brad Garlinghouse confidently said that he believes spot exchange-traded funds (ETFs) for cryptocurrencies other than Bitcoin will soon become available. Garlinghouse emphasized the strong probability of an Ethereum (ETH) exchange-traded fund (ETF) and other similar financial products without a particular timeline.

Garlinghouse emphasized that the approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) was only possible because of a judicial intervention, which he deemed necessary. He expressed optimism that other cryptocurrencies would avoid such regulatory obstacles and highlighted the future possibilities of diverse ETFs.

Garlinghouse disapproved of the SEC's methodology, highlighting a court's involvement as a reminder of the irregularities in regulatory practices. He indicated that the Securities and Exchange Commission (SEC), led by Gary Gensler, might need help upholding this strategy while expressing hope for transformation under new leadership.

Under the leadership of Garlinghouse, Ripple has encountered regulatory disputes, particularly with the SEC. Ripple Labs had a notable legal triumph last year when a court in the United States determined that the retail sales of XRP coins were not considered a securities offering. This ruling represented a crucial juncture for Ripple in its continuing legal disputes with the regulatory body.

Garlinghouse's remarks indicate a more widespread industry expectation for the growth of cryptocurrency exchange-traded funds (ETFs), suggesting a possible change in regulatory dynamics that might affect several digital assets apart from Bitcoin.

Tags : Altcoin  Bitcoin  BTC  Crypto market  cryptocurrency  ETF  Ethereum

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