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Home»ALTCOIN NEWS»Are there XRP, SOL, and ADA ETFs on the horizon? Ripple’s CEO thinks so
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Are there XRP, SOL, and ADA ETFs on the horizon? Ripple’s CEO thinks so

By Crypto FlexsMay 31, 20244 Mins Read
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Are there XRP, SOL, and ADA ETFs on the horizon?  Ripple’s CEO thinks so
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  • Industry leaders have seen a potential wave of new ETFs for XRP, Solana, and Cardano.
  • XRP’s legal battle with the SEC has cast a shadow over it, and Solana’s recent boom has established XRP as a strong competitor.
  • The SEC’s stance on staking rewards for Ethereum ETFs may impact future approvals.

A storm of speculation has ignited in the cryptocurrency world after the U.S. Securities and Exchange Commission (SEC) approved progress for a spot Bitcoin ETF and an Ethereum ETF. The question on everyone’s mind is what digital assets will follow ahead of the exchange-traded fund’s debut.

Domino effect from recent approvals?

Industry heavyweights like Ripple Labs CEO Brad Garlinghouse are full of optimism. They see the SEC’s decision as a domino effect, likely triggering a wave of new ETFs featuring XRP, Solana (SOL), and Cardano (ADA).

This is consistent with Garlinghouse’s past declarations about the ability of cryptocurrency ETFs to diversify investment portfolios and mitigate risk. But the road ahead is full of uncertainty. While some believe that the clear framework established by the Ethereum ETF could pave the way for the Solana ETF, others remain cautious.

The ongoing legal battle between the SEC and Ripple regarding the classification of XRP as a security has brought about major changes to the dream of an XRP ETF. Solana’s contrasting fortunes paint a different picture. The recent price surge and growing appeal within traditional finance (TradFi) positions the company as a strong contender for the next generation of cryptocurrency ETFs.

However, skepticism still remains. Some argue that the SEC’s approval of an Ethereum ETF was already overdue due to its unclear security status. The agency’s stance on classifying other tokens as securities is likely to be more stringent, reducing the likelihood of approval.

Learn more

Will more cryptocurrencies have their own ETFs?

Legislative intervention may be required for widespread ETF launch. If U.S. policymakers classify most cryptocurrencies as non-securities, the SEC may be more open to approving additional cryptocurrency ETFs.

Recent developments in the Ethereum ETF have been positive, but it remains fluid. The issuer is awaiting final SEC approval before these products can hit the market. The case of the Ethereum ETF is particularly interesting because Ethereum operates on a Proof-of-Stake (PoS) mechanism, allowing validators to earn staking rewards.

Initially, companies applying for these ETFs planned to include staking features. But the SEC has called for their removal, and companies like VanEck and BlackRock have already responded by updating their filings.

As the regulatory environment surrounding cryptocurrency assets continues to change, the potential for new cryptocurrency ETFs remains a topic of intense debate in the industry. With Bitcoin and Ethereum ETFs potentially serving as catalysts, it will be interesting to see which cryptocurrency emerges as the next star on the ETF stage.

On the flipside

  • Ripple’s lawsuit with the SEC is a major obstacle to XRP ETF approval.
  • Removing the staking feature from the Ethereum ETF reduces its attractiveness compared to cryptocurrency platforms that offer staking yields.
  • A broader ETF launch may require a clearer classification of cryptocurrencies from U.S. policymakers.

Why This Matters

The SEC’s switch to Bitcoin and possible approval for an Ethereum ETF could trigger a domino effect as established players like XRP, Solana, and Cardano race to debut exchange-traded funds. However, the road ahead is uncertain, as Ripple’s legal battle and the classification of other tokens as securities pose significant obstacles.

Speculation about the XRP ETF has increased since the SEC approved the Ethereum ETF. If you liked this, check out this article about the potential of the XRP ETF.
Ripple Hungry on SEC Says XRP ETF Ahead of Ethereum

Some analysts are optimistic about the Solana ETF’s future prospects. If you liked this article, you might also like our articles on the potential of the Solana ETF:
Is Solana EFT coming? JPMorgan says it is unlikely the SEC will approve.

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