The chief government officer (CEO) of Ripple Labs is for certain that different cryptos will comply with in Bitcoin’s (BTC) footsteps on their strategy to spot exchange-traded funds (ETFs).
In a new interview with CNBC, Ripple CEO Brad Garlinghouse says the potential of an Ethereum (ETH) ETF and others is a “certainty.”
“It’s a certainty. I’m not going to put a horizon on the time, but I think there will be other ETFs for sure. There will be other ETFs for sure…”
Nonetheless, in line with the Ripple Labs CEO, the U.S. Securities and Trade Fee (SEC) accredited a BTC ETF solely as a result of a courtroom pressured its hand. Garlinghouse hopes different cryptos don’t have to leap by way of the identical regulatory hoops.
“The sad part of that reality is we have a Bitcoin ETF only because a US court said to the SEC, ‘You’re being arbitrary and capricious in your application of the law.’ What would be sad is if every ETF had to go through that same journey, and for Gary Gensler to get smacked down by the US court system again, that might be necessary. But at some point, I think Gary Gensler won’t be the chair of the SEC, and that’ll be a good thing for the American people.”
Garglinghouse’s Ripple has had its fair proportion of run-ins with the regulatory company. Final 12 months, a US choose decided that retail gross sales of XRP tokens don’t represent a safety providing, handing Ripple Labs a main victory over the SEC in courtroom.
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