{"id":3509,"date":"2024-06-02T01:00:34","date_gmt":"2024-06-02T01:00:34","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/06\/02\/xrp-solana-cardano-etfs-might-be-next-predicts-ripple-ceo\/"},"modified":"2024-06-02T01:00:34","modified_gmt":"2024-06-02T01:00:34","slug":"xrp-solana-cardano-etfs-might-be-next-predicts-ripple-ceo","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/06\/02\/xrp-solana-cardano-etfs-might-be-next-predicts-ripple-ceo\/","title":{"rendered":"XRP, Solana, Cardano ETFs Might be Next, Predicts Ripple CEO"},"content":{"rendered":"<div>\n<p><strong>Ripple CEO Brad Garlinghouse recently expressed his belief that XRP, <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/learn\/what-is-solana\/\" class=\"glossary-only-link\" rel=\"noopener\">Solana<\/a> (<a target=\"_blank\" href=\"https:\/\/beincrypto.com\/learn\/what-is-solana\/\" class=\"glossary-only-link\" rel=\"noopener\">SOL<\/a>), and Cardano (ADA) could be the next cryptocurrencies to see exchange-traded funds (ETFs) on the market.<\/strong><\/p>\n<p>Speaking at Consensus 2024, Garlinghouse shared his optimistic outlook following the US Securities and Exchange Commission\u2019s (SEC) approval of spot Bitcoin (BTC) ETFs and progress on Ethereum (ETH) ETFs.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-will-xrp-solana-and-cardano-be-the-next-etfs\">Will XRP, Solana, and Cardano Be the Next ETFs?<\/h2>\n<p>Garlinghouse\u2019s confidence stems from the SEC\u2019s approval of Bitcoin and Ethereum ETFs, which set a precedent that could pave the way for more diverse crypto ETFs. He sees this move as increasing the acceptance and recognition of cryptocurrencies within the financial sector.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI think it\u2019s just a matter of time, and it\u2019s inevitable there\u2019s gonna be an XRP ETF, there\u2019s gonna be a Solana ETF, there\u2019s gonna be a Cardano ETF, and that\u2019s great,\u201d Garlinghouse <a target=\"_blank\" href=\"https:\/\/www.coindesk.com\/markets\/2024\/05\/30\/ripples-brad-garlinghouse-foresees-xrp-solana-cardano-etfs\/\" rel=\"noreferrer noopener nofollow\">stated<\/a>.<\/p>\n<\/blockquote>\n<p>His perspective aligns with his previous statements. In February, Garlinghouse asserted that the approval of Bitcoin ETFs marked <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/ripple-brad-garlinghouse-xrp-etf\/\" rel=\"noreferrer noopener\">the beginning of a broader acceptance of crypto ETFs<\/a>. He believes such financial products could help diversify investment portfolios and reduce risk exposure.<\/p>\n<p>Other industry experts share Garlinghouse\u2019s enthusiasm, though opinions vary on which cryptocurrencies might follow. Brian Kelly, CEO of digital currency investment firm BKCM, recently suggested that approving spot Ethereum ETFs could provide clearer regulatory frameworks, <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/spot-solana-etfs-experts-speculation\/\" rel=\"noreferrer noopener\">potentially leading to more crypto ETFs<\/a>, including Solana.<\/p>\n<p>However, the path to an XRP ETF has its own challenges. <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/sec-filed-redacted-remedies-reply-ripple\/\" rel=\"noreferrer noopener\">Ripple\u2019s ongoing legal battle with the SEC<\/a> has cast doubt on its immediate viability. <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/learn\/trader-joe-avax-crypto\/\" class=\"glossary-only-link\" rel=\"noopener\">Joe<\/a> McCann, CEO of crypto investment firm Asymmetric, highlighted these concerns.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI\u2019m a big Solana bull. [\u2026] I think Solana will be next [for ETFs]. Granted, there is some language in the Coinbase lawsuit that could impact that, but it seems unlikely. If you look at XRP, there is some history with the SEC. So, I don\u2019t know if it is going to be the ETF that comes next,\u201d McCann <a target=\"_blank\" href=\"https:\/\/unchainedcrypto.com\/bits-bips\/bits-bips-with-eth-etfs-likely-approval-whos-behind-the-political-reversal\/\" rel=\"noreferrer noopener nofollow\">commented<\/a>.<\/p>\n<\/blockquote>\n<p><strong>Read more: <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/learn\/crypto-etn-vs-crypto-etf\/\" rel=\"noreferrer noopener\">Crypto ETN vs. Crypto ETF: What Is the Difference?<\/a><\/strong><\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<p>\n<iframe title=\"Bits + Bips: Is US Politics Driving the ETH ETF Approval?\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/aMTT8E2dzRk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/p>\n<\/figure>\n<p>McCann also pointed to significant interest from Solana\u2019s traditional finance (TradFi) sector, driven by its perceived potential and favorable price action. He mentioned that TradFi entities view Solana as a promising investment, particularly after missing out on Ethereum\u2019s previous growth cycles. This sentiment reinforces his belief that Solana is a strong candidate for the next ETF.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-regulatory-hurdles-and-skepticism-surround-future-crypto-etfs\">Regulatory Hurdles and Skepticism Surround Future Crypto ETFs<\/h2>\n<p>Despite these positive signals, some remain cautious. Nikolaos Panigirtzoglou, Managing Director and Global Market Strategist at JPMorgan, expressed skepticism about the SEC approving crypto ETFs beyond Bitcoin and Ethereum.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe doubt. The decision by the SEC to approve ETH ETFs is already stretched given the ambiguity about whether Ethereum should be classified as a <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/learn\/top10-must-have-cryptocurrency-security-tips\/\" class=\"glossary-only-link\" rel=\"noopener\">security<\/a> or not. We don\u2019t think the SEC would go even further by approving Solana or other token ETFs given the SEC has stronger (relative to Ethereum) opinion that tokens outside Bitcoin and Ethereum should be classified as securities,\u201d Panigirtzoglou <a target=\"_blank\" href=\"https:\/\/www.theblock.co\/post\/296845\/jpmorgan-doubt-sec-approval-solana-other-crypto-etfs\" rel=\"noreferrer noopener nofollow\">stated<\/a>.<\/p>\n<\/blockquote>\n<p>Panigirtzoglou added that legislative changes might be necessary for broader ETF approvals. If US policymakers pass laws clarifying that most cryptocurrencies are not securities, the SEC might be more inclined to approve other crypto ETFs. However, such regulations still need to be put in place.<\/p>\n<p>Felix Mohr, Managing Partner at MohrWolfe, shares a similar opinion. He highlights the necessity of a strong legal strategy for companies launching blockchain-based financial products and points out that firms require substantial legal resources, particularly in the US.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cPerhaps it would be a more prudent path to build products around Bitcoin\u2019s blockchain, whether there is clarity around whether or not it is a commodity or security,\u201d Mohr told BeInCrypto.<\/p>\n<\/blockquote>\n<p>The recent approval of spot Ethereum ETFs has reinvigorated the crypto market, though the process is still unfolding. Potential issuers await the SEC\u2019s final approval before these products can begin trading.<\/p>\n<p>Ethereum ETFs are particularly interesting because Ethereum uses a <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/learn\/proof-of-work-explained\/\" class=\"glossary-only-link\" rel=\"noopener\">Proof-of-Stake<\/a> (PoS) mechanism, which allows validators to earn staking rewards. Initially, companies applying to issue these ETFs included staking features in their applications.<\/p>\n<p>However, the SEC requested these companies to revise their 19-4b and S-1 documents <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/fidelity-opted-out-ethereum-staking-etf\/\" rel=\"noreferrer noopener\">to exclude staking features<\/a>. After preliminary approval, firms like VanEck and BlackRock <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/blackrock-spot-ethereum-etfs-s-1-filing-update\/\" rel=\"noreferrer noopener\">have already updated their S-1 filings<\/a>.<\/p>\n<p><strong>Read more: <a target=\"_blank\" href=\"https:\/\/beincrypto.com\/learn\/eth-etf-explained\/\" rel=\"noreferrer noopener\">Ethereum ETF Explained: What It Is and How It Works<\/a><\/strong><\/p>\n<p>As the regulatory environment continues to evolve, the potential for new crypto ETFs remains a topic of keen interest and speculation within the industry.<\/p>\n<div id=\"bic-c-disclimer-81d30978-4ce2-47c2-915a-c1ba2b812721\" class=\"p-5 mt-6 rounded-lg border border-grey-200 \">\n<div class=\"pl-8 text-grey-700 [&amp;_p:not(.dh)]:!p4 [&amp;_p:not(.dh)]:!p4--ns [&amp;_p:not(.dh)]:!mb-0\">\n<p class=\"p3 p3--ns mb-2 unstyled-content-p dh\">Disclaimer<\/p>\n<p>In adherence to the <a target=\"_blank\" class=\"c-link\" href=\"https:\/\/beincrypto.com\/trust-project\/\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/beincrypto.com\/trust-project\/\" data-sk=\"tooltip_parent\" aria-describedby=\"sk-tooltip-21920\">Trust Project<\/a> guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our\u00a0<a target=\"_blank\" class=\"c-link\" href=\"https:\/\/beincrypto.com\/terms-and-conditions\/\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/beincrypto.com\/terms-and-conditions\/\" data-sk=\"tooltip_parent\">Terms and Conditions<\/a>,\u00a0<a target=\"_blank\" class=\"c-link\" href=\"https:\/\/beincrypto.com\/privacy-policy\/\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/beincrypto.com\/privacy-policy\/\" data-sk=\"tooltip_parent\">Privacy Policy<\/a>, and\u00a0<a target=\"_blank\" class=\"c-link\" href=\"https:\/\/beincrypto.com\/disclaimer\/\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/beincrypto.com\/disclaimer\/\" data-sk=\"tooltip_parent\">Disclaimers<\/a>\u00a0have been updated.<\/p>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ripple CEO Brad Garlinghouse recently expressed his belief that XRP, Solana (SOL), and Cardano (ADA) could be the next cryptocurrencies to see exchange-traded funds (ETFs) on the market. Speaking at Consensus 2024, Garlinghouse shared his optimistic outlook following the US Securities and Exchange Commission\u2019s (SEC) approval of spot Bitcoin (BTC) ETFs and progress on Ethereum [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/3509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/comments?post=3509"}],"version-history":[{"count":0,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/3509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media\/3511"}],"wp:attachment":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media?parent=3509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/categories?post=3509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/tags?post=3509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}