Ripple CEO Brad Garlinghouse stated in a Bloomberg interview that the approval of spot exchange-traded funds (ETFs) for crypto tokens other than Bitcoin is "inevitable." "I think it's inevitable that there will be multiple ETFs around different tokens," he stressed, adding that Ripple would welcome an XRP ETF. "In my opinion, it makes these markets safer, it makes them more robust, and so this is good for the investment community," the executive emphasized.
Multiple Token ETFs Are the Trend
Drawing a parallel to the stock market, Garlinghouse explained that investors typically want to diversify risk rather than concentrate on a single asset. "I think it only makes sense there will be other ETFs," he said. However, predicting the exact timeline remains challenging: "When we will see them is hard to predict." He pointed out that the SEC only approved spot Bitcoin ETFs after being compelled by court rulings, criticizing SEC Chair Gary Gensler's reluctance. "The sad reality of what we saw with the Bitcoin ETF is it's only because the courts forced the SEC's hand," Garlinghouse remarked.
SEC Enforcement Approach Facing Setbacks
Regarding the SEC's enforcement-centric regulatory strategy, Garlinghouse observed that "the SEC has lost consistently." He highlighted the SEC's defeats in the Ripple and Grayscale cases, and noted that the judge presiding over the Coinbase case appears "pretty skeptical about some of the SEC's arguments." The CEO believes the SEC will only change its approach when "either they realize they're losing consistently or you have Congress lean in and write new legislation." He acknowledged that passing legislation during an election year is difficult, but expressed hope for a stablecoin bill this year.
Outlook for XRP ETF
When asked whether Ripple would welcome an XRP ETF, Garlinghouse responded affirmatively: "We would certainly welcome it." He reiterated that multiple ETFs across different tokens are inevitable, and even envisioned ETFs that hold a basket of tokens. Several firms have already filed with the SEC to launch spot Ethereum ETFs. Standard Chartered predicted last month that the SEC might approve an Ethereum ETF in May, though skepticism remains because Gensler has previously called most crypto tokens securities. Garlinghouse's comments reinforce the growing narrative that after Bitcoin's ETF success, other major crypto assets—including XRP—could soon follow suit, pending regulatory clarity.