XRP, SOL, and ADA ETFs on the Horizon? Ripple’s CEO Thinks So

The SEC approval of spot Ethereum ETFs have sparked speculation on which crypto will be next for their own ETF.

Brad Garlinghouse levitating an ADA, SOL and XRP coins between his hands.
Created by Gabor Kovacs from DailyCoin
  • BRad Garlinghouse has envisioned a potential wave of new ETFs for XRP, Solana, and Cardano.
  • XRP’s legal battle with the SEC has cast a shadow, while Solana’s recent boom has positioned it as a strong contender.
  • The SEC’s stance on staking rewards for Ethereum ETFs could impact future approvals.

The U.S. Securities and Exchange Commission’s (SEC) thumbs-up for spot Bitcoin ETFs and progress on Ethereum ETFs has ignited a firestorm of speculation in the crypto world. The question on everyone’s mind is: Which digital assets are next in line for their exchange-traded fund debut?

A Domino Effect From Recent Approvals?

Industry heavyweights like Brad Garlinghouse, CEO of Ripple Labs, are brimming with optimism. They view the SEC’s decisions as a domino effect, potentially triggering a wave of new ETFs featuring XRP, Solana (SOL), and Cardano (ADA)


This aligns with Garlinghouse’s past pronouncements about crypto ETFs’ ability to diversify investment portfolios and mitigate risk. But the road ahead is riddled with uncertainties. While some believe a clear framework established through Ethereum ETFs could pave the way for a Solana ETF, others remain cautious. 

Ripple’s ongoing legal battle with the SEC regarding XRP’s classification as a security throws a wrench into the XRP ETF dream. Solana’s contrasting fortunes paint a different picture. Its recent price surge and growing allure within traditional finance (TradFi) position it as a strong contender for the next crypto ETF.

However, skepticism lingers. Some argue that the SEC’s approval of Ethereum ETFs was already a stretch due to its unclear security status. The agency’s stance on classifying other tokens as securities is likely even more rigid, making approvals less probable.

Will More Cryptocurrencies Get Their Own ETFs?

Legislative intervention might be necessary for a broader ETF rollout. If US policymakers clarify the classification of most cryptocurrencies as non-securities, the SEC might be more open to approving additional crypto ETFs.


While recent developments with Ethereum ETFs have been positive, they are still in flux. Issuers await final SEC approval before these products can hit the market. The case of Ethereum ETFs 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. However, the SEC requested their removal, and firms like VanEck and BlackRock have already complied by updating their filings. 

As the regulatory landscape surrounding crypto assets continues to morph, the potential for new crypto ETFs remains a topic of intense industry debate. With Bitcoin and Ethereum ETFs potentially acting as catalysts, it will be fascinating to see which cryptocurrencies emerge as the next stars on the ETF stage.

On the Flipside

  • Ripple’s lawsuit with the SEC is a major obstacle to XRP ETF approval.
  • Removing staking features from Ethereum ETFs reduces their attractiveness compared to crypto platforms that offer staking yields.
  • A clearer classification of cryptocurrencies by US policymakers might be required for a broader ETF rollout.

Why This Matters

The SEC’s shift on Bitcoin and potential approval for Ethereum ETFs could trigger a domino effect, with established players like XRP, Solana, and Cardano vying for their own exchange-traded fund debuts. However, the path forward is uncertain, with Ripple’s legal battle and the classification of other tokens as securities posing significant hurdles. 

Speculation about an XRP ETF has risen following the SEC’s approval of Ethereum ETFs. If you liked this, check out this article on the potential for an XRP ETF:
Ripple Hungry for XRP ETF as SEC Gives Ethereum the Go-Ahead

Some analysts are optimistic about the future prospects of a Solana ETF. If you enjoyed this article, you might also like our piece on the potential for a Solana ETF:
Solana EFT Incoming? SEC Unlikely to Approve, Says JPMorgan

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.