Ripple CEO, Brad Garlinghouse sparked enthusiasm with his optimistic projections on May 30, particularly concerning the potential for an XRP exchange-traded fund (ETF). Garlinghouse's remarks conveyed a sense of confidence, implying that XRP and other alternative cryptocurrencies could emulate Ether's success in securing ETF approvals in the US.

During the Consensus 2024 conference, Garlinghouse boldly stated that the introduction of an XRP exchange-traded fund (ETF) in the US is "inevitable," with the likelihood of Solana and Cardano ETFs following suit.

Spot Ether ETF Approval Paves the Way for XRP ETF

Despite his positive outlook, Garlinghouse acknowledged the regulatory hurdles ahead. He criticized the US Securities and Exchange Commission (SEC) for its lack of clarity, particularly regarding Ether's classification as a security. Recent court documents revealed the SEC and its Chair Gary Gensler's belief that Ether was a security.

According to Garlinghouse, this ambiguity poses a significant obstacle to cryptocurrency innovation in the US. His comments regarding a potential XRP ETF come on the heels of the SEC's recent approval of the Spot Ethereum ETF, indicating a trend toward broader acceptance of digital assets within the regulatory framework.

This isn't the first time Garlinghouse has confidently predicted the emergence of altcoin ETFs. In February 2024, the Ripple CEO discussed the prospects of an XRP ETF, drawing parallels with the early days of the stock market, where diversification played a crucial role in risk management.

Furthermore, Garlinghouse expressed Ripple's support for an XRP ETF, stating, "We would certainly welcome it," and highlighting the inevitability of multiple ETFs covering different tokens.

Meanwhile, Ripple's CTO, David Schwartz, shared insights into the company's latest developments in an exclusive interview with Cryptonews' Rachel Wolfson at the Consensus 2024 event.

Schwartz elaborated on Ripple's endeavors to advance institutional DeFi and uphold regulatory compliance on decentralized blockchains. He underscored that these endeavors aim to seamlessly incorporate institutions with rigorous compliance requirements into the DeFi ecosystem while maintaining the fundamental tenets of decentralization.

Furthermore, Ripple is making strides in tokenizing tangible assets from the real world, allowing them to serve as collateral in DeFi applications. This endeavor aims to combine the advantages of regulatory-compliant offerings with the adaptability of decentralized finance.

Projections for XRP ETF Approval Supported by Standard Chartered Insights

The multinational bank Standard Chartered has recently provided insights into the possibility of Solana and Ripple's XRP obtaining ETF approval.

Analysts at the bank, including Geoffrey Kendric, suggest that such approval is unlikely to happen before 2025.

In-depth, Standard Chartered's viewpoint is rooted in the comprehensive regulatory landscape and prevailing market conditions. Analyst Geoffrey Kendric highlighted that despite the increasing interest and expectation surrounding XRP and SOL gaining ETF status, the existing regulatory climate renders approval in 2024 improbable.

Kendric pointed out that the market dynamics and regulatory challenges indicate that the timeline for ETF approval is more likely to shift to 2025.