Ripple CEO Foresees Approval for XRP, Solana, and Cardano ETFs by 2024
Ripple CEO Brad Garlinghouse is stirring up excitement with his bold predictions about the future. He believes that major cryptocurrencies like XRP, Solana, and Cardano could soon have groundbreaking ETFs.
Could we see the SEC give the green light to these revolutionary ETFs in 2024? Let’s delve into this article to discover what lies ahead.
Building on the success of Bitcoin and Ethereum, Garlinghouse is confident that ETFs for other major cryptocurrencies are on the horizon. With recent approvals for spot Bitcoin ETFs and progress being made towards Ethereum ETFs, the stage is set for the approval of ETFs for XRP, Solana, and Cardano.
Garlinghouse predicts that it’s only a matter of time before we see an XRP ETF, a Solana ETF, and a Cardano ETF. He believes it’s inevitable and anticipates that this approval will be a catalyst for substantial growth in the cryptocurrency market.
This news could be a game-changer for crypto investors. The recent developments regarding Ethereum ETFs have been surprising, with key filings receiving preliminary approval from the SEC. However, final approval is still required before these ETFs can be traded. Cathie Wood, CEO of ARK Invest, attributes the approval to the increasing political importance of cryptocurrency.
Garlinghouse’s predictions go beyond ETF approvals. He also expects the overall value of the cryptocurrency market to experience a significant surge. He predicts that the value of crypto will double by the end of 2024, reaching a market cap of $5 trillion. This surge would highlight the growing adoption and investment in cryptocurrencies, solidifying them as a key asset class in the global financial system.
The big question on everyone’s minds is whether the SEC will approve these ETFs in 2024. While the recent approvals of Bitcoin and Ethereum ETFs set a precedent, the SEC’s stringent regulatory framework means that the approval process for XRP, Solana, and Cardano ETFs may face challenges.
If the SEC does give the green light to these ETFs, it could have significant implications for the crypto market. It would further legitimize digital assets and accelerate their adoption, potentially making 2024 a transformative year for cryptocurrencies.
What are your thoughts? Do you think the SEC is finally warming up to crypto ETFs? Join the discussion and share your opinion.