Ripple (XRP) CEO Brad Garlinghouse stated that we will see more cryptocurrency-centered exchange traded funds (ETFs) in the coming period.
Brad Garlinghouse talked about cryptocurrency ETFs in an interview with CNBC reporter Arjun Kharpa at the World Economic Forum in Davos.
Garlinghouse stated that the approval given by the US Securities and Exchange Commission (SEC) to spot Bitcoin ETFs will pave the way for more cryptocurrency-centered spot ETFs. He’s definitely looking into the spot Ripple ETF. he emphasized.
On the other hand, in the near future Ethereum ETFs will also be given the green light The experienced name stated the following in the details of his statement:
I think Ripple and Ethereum ETF approvals are certain. I can’t give a time horizon, but I think other ETFs will definitely be approved.
Ripple is not considering an IPO for now
Pointing out its oppressive and wrong rules, Garlinghouse stated that Ripple has suspended its US public offering plans for now. On the other hand, the CEO stated that they left the door open to the public offering option and that they will evaluate it when the time comes:
There is a very hostile regulatory structure in the US that is empowered to approve S-1 applications. Trying to go public this way doesn’t sound like much fun to me. But if the SEC gets new regulators and changes its perception, we will re-evaluate the IPO.
The regulatory body is functioning incorrectly
Continuing his statement, SEC Chairman Who does not hesitate to criticize Gary Gensler Garlinghouse describes Gensler as “Doing the same thing over and over hoping to get different results” someone described as:
I think SEC Chairman Gary Gensler has become a political liability in the United States. I think he is not acting in the interests of the citizens. It is not acting in the best way for the long-term growth of the economy. He is someone who keeps doing the same thing and expects different results, and this attitude must change now.
SEC’s As a result of the US court and public pressure Ripple CEO, who believes he has approved spot Bitcoin ETFs, argued that the same pressure will bring other ETF approvals sooner or later:
The truth is that only one US court has told the SEC ‘You act arbitrarily and capriciously in applying the law‘ so we have a Bitcoin ETF. The sad thing would be if every ETF had to go through the same journey and Gary Gensler would be slapped again by the US court system, but that may be necessary.