tl;dr
During a recent appearance on Fox Business, Ripple CEO Brad Garlinghouse discussed the potential for altcoin exchange-traded funds (ETFs), highlighting the diversification benefits for investors. He emphasized the inevitability of an XRP ETF and predicted upcoming ETFs for Solana and Cardano. Garlin...
Ripple CEO Brad Garlinghouse recently advocated for the launch of multiple altcoin exchange-traded funds (ETFs) to provide diversified asset exposure. He expressed confidence in the inevitability of an XRP ETF approval and anticipated the introduction of ETFs for Solana (SOL) and Cardano (ADA).
During his appearance on Fox Business, Garlinghouse highlighted the significance of the SEC's approval of spot Ethereum ETFs for market accessibility and envisaged strong performance. He criticized the SEC for delays in approving positive outcomes and emphasized the value of diversification for investors, drawing parallels with exposure to different commodities.
Garlinghouse also addressed the SEC's legal battles and victories, emphasizing that the approval of spot Bitcoin ETFs came after persistent rejections and court battles, indicating a potential pattern for other cryptocurrencies like XRP, Solana, and Cardano.
He referenced XRP's former position as the second-largest digital asset by market capitalization, noting its current eighth-place position with a market cap of approximately $29 billion. Garlinghouse asserted that the SEC's approval of Ethereum had impacted XRP's status, but he remained optimistic about the future of XRP ETFs.
Garlinghouse's confidence in the inevitable approval of XRP ETFs was reinforced by his remarks at the Consensus conference, where he also predicted the launch of Solana and Cardano ETFs. He expressed belief in the potential success of these products, citing the momentum of the crypto market and the significant interest in such investment opportunities.
Furthermore, Garlinghouse commented on the SEC's history of resistance and eventual approval of spot Bitcoin ETFs. He suggested that the regulator had been "dragged kicking and screaming" to approve these ETFs after enduring legal challenges and losses in court, indicating a similar potential outcome for XRP and other altcoins.
The Ripple CEO concluded by emphasizing the frustration of having to go through courts to achieve positive outcomes and highlighted the market's continuing high interest, particularly following the success of Bitcoin ETFs. He also expressed optimism about the potential performance of Ethereum ETFs once they go live, foreseeing significant market impact.
More about C3 Ai Inc
C3 Ai Inc (C3)
Industry: Technology
Sector: Services-Prepackaged Software
Market Cap: $3,644,379,000
Dividend Yield: None
PEG Ratio: None
EPS: -2.34
EBITDA: 2.602
P/E Ratio: -0.901
Volume: 310,582,000
Market Price: $29.82
52-Week Change: 0
RSI: 0.196
More about Emeren Group Ltd
Emeren Group Ltd, ReneSola Ltd, develops, builds, operates and sells solar energy projects. The company is headquartered in Stamford, Connecticut.
Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Market Cap: 99670000
Dividend Yield: None
EPS: -0.16
PE Ratio: 1.918
52-Week High: -0.127
52-Week Low: 106582000
Price to Sales: 4.88
Price to Book: 3.42
Return on Equity: 0.148