The chief govt officer (CEO) of Ripple Labs is for certain that different cryptos will observe in Bitcoin’s (BTC) footsteps on their approach to spot exchange-traded funds (ETFs).
In a brand 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 place a horizon on the time, however I feel there might be different ETFs for certain. There might be different ETFs for certain…”
Nevertheless, in line with the Ripple Labs CEO, the U.S. Securities and Trade Fee (SEC) authorized a BTC ETF solely as a result of a courtroom pressured its hand. Garlinghouse hopes different cryptos don’t have to leap by the identical regulatory hoops.
“The unhappy a part of that actuality is we’ve got a Bitcoin ETF solely as a result of a US courtroom stated to the SEC, ‘You’re being arbitrary and capricious in your utility of the regulation.’ What could be unhappy is that if each ETF needed to undergo that very same journey, and for Gary Gensler to get smacked down by the US courtroom system once more, that is perhaps vital. However in some unspecified time in the future, I feel Gary Gensler received’t be the chair of the SEC, and that’ll be a great factor for the American individuals.”
Garglinghouse’s Ripple has had its justifiable share of run-ins with the regulatory company. Final 12 months, a US decide determined that retail gross sales of XRP tokens don’t represent a safety providing, handing Ripple Labs a significant victory over the SEC in courtroom.
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