On May 31, Ripple’s CEO made some predictions on the crypto industry’s future as well as the popularity of ETFs in the upcoming days. At the Consensus Conference in Austin, Texas, Brad Garlinghouse predicted that the SEC would approve the Solana (SOL), Ripple (XRP), and Cardano (ADA) ETF by 2024 end.
Brad Garlinghouse’s Statements on Altcoin ETFs?
At a time when the SEC was actively engaged with the ETF approval process, Brad Garlinghouse’s statement somehow filled the SOL and XRP community with joy.
At press time, SOL was trading at $166.58, after a 0.88% intraday drop with a market cap of $76,567,341,169. BSCN Headlines shared the CEO’s predictions and perspective over X
BREAKING: CEO OF @RIPPLE PREDICTS THE "INEVITABLE" APPROVAL OF $XRP $ADA AND $SOL ETFS
— BSCN Headlines (@BSCNheadlines) May 30, 2024
“I think it’s just a matter of time, and it’s inevitable there’s gonna be an XRP ETF, there’s gonna be a Solana ETF, there’s gonna be a Cardano ETF, and that’s great”, said Garlinghouse in the conference.
Recent developments in the crypto industry and unexpected moves from the SEC’s end strengthened Garlinghouse’s expectations with ETFs.
How Far the Crypto Market Will Run?
Ripple’s CEO not only spoke about ETFs but also focused on the crypto industry’s upcoming growth. He predicted that the crypto market would hit around $5 Trillion in market cap by the year-end.
Good Morning Crypto, a crypto enthusiast unveiled Brad Garlinghouse’s predictions to 16K followers.
JUST IN: Ripple CEO Brad Garlinghouse Predicts The US Approval Of $XRP, Solana & Cardano ETFs !!
— Good Morning Crypto (@AbsGMCrypto) May 30, 2024
⁰"I think it's just a matter of time, and it's inevitable there's gonna be an XRP ETF, there's gonna be a Solana $SOL ETF, there's gonna be a Cardano $ADA ETF, and that's… pic.twitter.com/q1F3qZpHSG
Most analysts are bullish about the crypto market, the ongoing bull run, and approval of spot Ethereum ETFs supported Garlinghouse’s predictions.
According to CoinMarketCap, the Crypto market’s current market cap was hovering at $2.54 Trillion at press time whereas the 24-volume was recorded at $76.06 Billion.
Is Bitcoin & Ethereum ETFs The Inspiration?
Approval of spot Bitcoin ETFs in January 2024 and then spot Ethereum ETFs in May 2024 somehow inspired Garlinghouse to make such a statement.
There was a time when the SEC was gradually postponing the spot Ethereum ETF decision, but all of a sudden on May 23, the SEC green-flagged the 19b-4 forms for eight applicants. Moreover, the SEC requested the applicants to submit their S1-filing drafts by May 31.
