Ripple CEO Brad Garlinghouse is confident that after the approval of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum, ETFs linked to the XRP, SOL and ADA cryptocurrencies will inevitably appear on the market.

Brad Garlinghouse shared this optimistic forecast at the Consensus 2024 conference. He explained: in January, after years of hesitation, the US Securities and Exchange Commission (SEC) approved the launch of spot Bitcoin ETFs, and recently “made progress” in regarding Ethereum ETFs. This set a precedent that could pave the way for exchange-traded funds based on other popular cryptocurrencies. Garlinghouse regarded the regulator’s actions as another step towards widespread acceptance and recognition of cryptocurrencies in the financial sector.

“I think it’s just a matter of time before ETFs tied to Ripple, Solana and Cardano are the next ones to hit the market. It’s great,” Garlinghouse said.

He is confident that these financial products will help diversify investment portfolios and reduce risks for investors. The head of Ripple admitted that the emergence of cryptocurrency ETFs was preceded by numerous delays and regulatory obstacles, but Garlinghouse called these delays the usual “speed bumps”. During the discussion, he criticized regulatory uncertainty regarding cryptocurrencies in the United States, hinting at the ambiguity of the status of ether.

“SEC Chairman Gary Gensler was called before Congress and when asked whether ether was a security, he did not answer the question. However, he insists that the rules for the crypto industry are clear and do not need to be updated,” Garlinghouse complains.

Standard Chartered's head of foreign exchange and digital assets research, Geoffrey Kendrick, shares Garlinghouse's enthusiasm for the possible launch of cryptocurrency ETFs. He recently suggested that the approval of spot Ether ETFs could help create a clearer regulatory framework, potentially leading to more crypto ETFs, including those based on SOL and XRP.