The chief executive officer (CEO) of Ripple Labs is confident that other cryptos will follow in Bitcoin’s (BTC) footsteps towards exchange-traded funds (ETFs).
In a new interview with CNBC, Ripple CEO Brad Garlinghouse says say the possibility of an Ethereum (ETH) ETF and others is a “certainty.”
“It’s a certainty. I’m not going to put a time horizon, but I think there will definitely be other ETFs. There will certainly be other ETFs…’
However, according to the CEO of Ripple Labs, the US Securities and Exchange Commission (SEC) only approved a BTC ETF because a court forced it to do so. Garlinghouse hopes other cryptos won’t have to jump through the same regulatory hoops.
“The sad part of that reality is that we only have a Bitcoin ETF because a US court told the SEC, ‘You are arbitrary and capricious in your application of the law.’ What would be sad is that if every ETF had to make the same journey, and if Gary Gensler were to be crushed by the US legal system again, that might be necessary. But at some point I think Gary Gensler will no longer be the chairman of the SEC, and that will be a good thing for the American people.”
Garglinghouse’s Ripple has had its fair share of run-ins with the regulator. Last year, a US judge ruled that retail sales of XRP tokens do not constitute a security offering, handing Ripple Labs a major win against the SEC in court.
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