Ripple CEO signals potential for an XRP ETF after approval of Ethereum ETFs

• ripple CEO indicates possible XRP ETFs after the approval of Ethereum ETFs by the Sec.
• The support of Brad Garlinghouse is in line with its optimistic forecast for XRP in 2024.
• regulatory challenges and the lawsuit of ripple at the SEC affect the time of potential XRP ETFs.

Brad Garlinghouse, CEO of Ripple, indirectly indicated that XRP could be the next cryptocurrency, in which stock market -traded funds (ETFs) are launched.

This is followed by the recent approval of eight spot etherum ETFs by the US stock exchange supervisory authority (Sec).

Spot XRP ETF prospective customers publish Ethereum ETF approval

Garlinghouses Subtle reference to the possibility of XRP-ETFs was carried out via his reaction to x (formerly Twitter) he celebrated the approval of all Ethereum ETF applications by the US stock exchange regulator SEC. The approved Ether ETF applications included those of well-known financial companies such as Blackrock, Grayscale, Vaneck and Fidelity.

Garlinghouse described the events of the week as "significant" for the crypto industry and compared the approvals of the SEC and the adoption of the Fit21 crypto law with a "hell freezing", an opinion that has been adapted to many in the community that had long been awaited for their preferred cryptocurrency.

In an interview in February, Garlinghouse expressed his conviction that an XRP-Spot-ETF was inevitable.

He emphasized how important such an investment product was for diversification, but did not want to commit himself to a specific schedule and named regulatory uncertainties as the main factor.

When asked about possible cooperation with asset managers such as Blackrock for an XRP ETF, Garlinghouse remained non-binding, but admitted the associated complexity.

Legal disputes with ripple are in the way of an ETF approval

Despite Garlinghouses enthusiasm, the way to an XRP ETF is full of challenges.

The ongoing legal dispute between Ripple and the SEC, the Ripple accuses of having sold not registered securities, remains a significant hurdle. The outcome of this legal dispute will probably play a crucial role in determining the feasibility and the time of an XRP ETF.

While Ripple's CEO is optimistic about the approval of the Exp ETF, the ETF analyst of Bloomberg, James Seyffart, said that Solana (Sol) could be a more likely candidate as XRP.

Seyffart argued that Solana was a strong competitor due to its market position and greater attractiveness. However, he warned that a Solana ETF may not come about in 2026, which depends on regulatory developments and the establishment of a appointment market regulated by the CFTC.

I'm sorry that they are simple -minded. I'll make it easier for you.

Due to the current regulatory framework, I do not believe that Solana will be in an ETF for several years. Probably after 2026.

In theory, however, the congress can accelerate this schedule.

- James Seyffart (@jseyff) 22. May 2024

Although no further applications for crypto ETFs have been made so far, the approval of Ethereum-Spot ETFs and the legislative progress in the context of the Fit21 crypto law a significant progress for the cryptocurrency sector.