Brad Garlinghouse Anticipates Approval of New Crypto ETFs in the US
During the World Economic Forum in Davos, Ripple CEO Brad Garlinghouse expressed his belief that the recent approval of several Bitcoin Spot ETFs could potentially pave the way for the approval of ETFs based on other cryptocurrencies in 2024.
Although he did not explicitly predict the approval of an XRP ETF by the SEC, he expects an Ethereum ETF to be approved in the near future.
“I think it’s a certainty. I won’t set a timeline, but I do think there will certainly be other ETFs,” said Ripple CEO.
– Brad Garlinghouse
Garlinghouse Criticizes the SEC’s Regulatory Approach
Garlinghouse criticized SEC Chairman Gary Gensler’s regulatory approach, calling it counterproductive and politically problematic.
“I think SEC Chairman Gary Gensler has become a political handicap in the United States. I don’t think he’s acting in the best interest of citizens. He’s not acting in the best interest of long-term economic growth.”
He pointed out that the SEC was compelled by the judiciary system to approve a Bitcoin ETF due to Grayscale’s courtroom victory in 2023, without which Bitcoin ETFs possibly would not have been approved today.
Ripple’s CEO also described Gensler as “arbitrary and capricious” in the way he applies regulatory laws.
Garlinghouse also discussed the potential of stablecoins and the need for clear regulations across the entire cryptocurrency industry.