Ripple CEO Hints At Future Possibilities Amid SEC Advancements

Ripple CEO Brad Garlinghouse has indirectly hinted that XRP could be the next cryptocurrency to get exchange-traded funds (ETFs). His hint came after the U.S. Securities and Exchange Commission (SEC) recently approved eight spot Ethereum ETFs.

Garlinghouse subtly nodded to the possibility of XRP ETFs through his reaction on X (formerly Twitter). He was responding to a comment on his post celebrating the SEC’s approval of all Ethereum ETF applications. The approved ether ETF applications came from big financial companies like BlackRock, Grayscale, VanEck, and Fidelity.

Garlinghouse described the week’s events as “momentous” for the crypto industry. He compared the SEC’s approvals and the passing of the FIT21 crypto bill to “hell freezing over.” Many in the community shared this sentiment, having long anticipated similar advancements for their favorite cryptocurrency.

In February, Garlinghouse expressed his belief that an XRP spot ETF was inevitable. He emphasized the importance of such an investment product for diversification purposes. However, he did not commit to a specific timeline, citing regulatory uncertainties as a major factor.

When asked about potential collaborations with asset managers like BlackRock for an XRP ETF, Garlinghouse remained non-committal. He acknowledged the complexities involved.

Ripple legal battles block ETF Approval path

Despite Garlinghouse’s enthusiasm, the path to an XRP ETF is challenging. The ongoing lawsuit between Ripple and the SEC, where the SEC accused Ripple of selling unregistered securities, remains a significant hurdle. The outcome of this legal battle will likely play a crucial role in determining the feasibility and timing of an XRP ETF.

While Garlinghouse is optimistic about an XRP ETF approval, Bloomberg ETF analyst James Seyffart suggested that Solana (SOL) might be a more probable candidate than XRP. Seyffart argued that Solana’s market position and broader appeal make it a strong contender.

However, he cautioned that a Solana ETF might not materialize until 2026, contingent upon regulatory developments and establishing a CFTC-regulated futures market.

While no other crypto ETF applications have been made so far, the approval of Ethereum spot ETFs and the legislative advancements marked by the FIT21 crypto bill signify significant progress for the cryptocurrency sector.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.