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At the sizzling Swell convention, Ripple CEO Brad Garlinghouse addressed the growing passion in XRP exchange-traded funds (ETFs). In an interview with Pondering Crypto said that while the timing of a number of ETF filings greatly surprised him, he anticipated to seek more products fancy these emerge. He identified that the approval of a Bitcoin ETF earlier this year hinted at a pattern that would probably embrace Ethereum, Solana, and XRP ETFs.
Ripple’s Goal in ETF Developments
When asked about Ripple’s involvement with ETF issuers, Garlinghouse explained that the nature of digital assets allows anyone to create an ETF with out Ripple’s participation. On the other hand, Ripple is supportive and advocates for more XRP ETFs, seeing them as beneficial for the ecosystem.
Regulatory Hurdles: The SEC’s Impact
Garlinghouse raised considerations about the U.S. Securities and Exchange Commission (SEC) and its potential to block XRP ETF applications. He identified that the SEC filed an appeal shortly after two ETF applications for XRP were submitted, questioning whether or no longer this was an attempt to send a market signal. He criticized the SEC’s stance, arguing that a federal assume had already ruled that XRP is no longer a safety, yet the SEC continues to assert otherwise.
“I assume the SEC is acting launch air of the law, duration. I assume you have a rogue agency who, you already know, literally, as you’re seeing within the lawsuit, a federal assume has ruled that XRP in and of itself is no longer a safety. Yet the SEC is calling of us saying, properly, we tranquil assume XRP is a safety. Right here’s no longer ethical behavior,” he said. (Sic)
He described the agency’s behavior as “acting launch air of the law” and explained the need for regulatory clarity, especially from Congress. Garlinghouse expressed hope that changes in SEC leadership would lead to a greater regulatory environment. He argued that the SEC’s contemporary strategies are causing frustration among crypto companies and limiting their access to banking companies.
