The world of digital assets is evolving rapidly, and with the recent approval of Ethereum spot ETFs in the United States, market attention has shifted to the next wave of potential ETF candidates. Among the most vocal proponents of broader crypto ETF adoption is Brad Garlinghouse, CEO of Ripple. He has publicly expressed optimism about the prospects of XRP, Solana (SOL), and Cardano (ADA) being included in future exchange-traded funds. His insights offer a compelling look into the future of cryptocurrency investment vehicles and the maturation of the broader market.
As institutional interest grows and regulatory landscapes shift globally, understanding the potential of these three digital assets—and their suitability for ETF inclusion—becomes increasingly important for both retail and professional investors.
Why XRP Stands Out for ETF Inclusion
XRP, the native token of Ripple’s payment protocol, has long been positioned as a bridge currency for fast, low-cost cross-border transactions. Unlike many cryptocurrencies focused solely on speculation or decentralized applications, XRP serves a clear utility in real-world financial infrastructure.
Garlinghouse emphasizes that XRP’s integration with financial institutions and payment providers—such as its past collaboration with MoneyGram—demonstrates tangible use cases that align with traditional finance principles. This practical adoption strengthens the argument that XRP should not be classified as a security, which is a key hurdle for ETF approval in the U.S.
Furthermore, Ripple’s ongoing legal battle with the SEC has brought significant clarity to the regulatory conversation around digital assets. While the case continues to unfold, parts of the ruling have already distinguished between institutional and retail sales of XRP, suggesting a path forward for regulatory acceptance.
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With increasing demand for efficient international remittances and central bank digital currency (CBDC) interoperability, XRP’s role in modernizing global payments makes it a strong contender for future ETF consideration.
Solana (SOL): High Performance Meets Scalability
Solana has emerged as one of the most technically advanced blockchain platforms, known for its high throughput and low transaction costs. With the ability to process thousands of transactions per second, SOL supports a rapidly growing ecosystem of decentralized applications (DApps), decentralized exchanges (DEXs), and NFT marketplaces.
Brad Garlinghouse highlights Solana’s scalability and developer activity as key strengths. The network’s performance rivals or exceeds that of traditional payment systems like Visa during peak loads—making it an attractive foundation for next-generation financial services.
Despite past concerns about network outages, ongoing improvements in decentralization and resilience have bolstered confidence among developers and investors alike. Moreover, Solana’s growing presence in sectors like Web3 gaming and social media further diversifies its utility beyond pure finance.
While the SEC has previously indicated in litigation against Coinbase and Kraken that SOL could be considered a security, this does not necessarily preclude future ETF approval—especially if market demand and global regulatory trends continue to evolve favorably.
Cardano (ADA): Research-Driven Innovation
Cardano differentiates itself through its academic, peer-reviewed approach to blockchain development. Built on a foundation of scientific research, ADA’s underlying technology—including the Ouroboros proof-of-stake consensus algorithm—offers high security and energy efficiency.
Garlinghouse points to Cardano’s strong community governance model and commitment to sustainability as factors that enhance its long-term viability. Unlike projects driven by hype or short-term gains, Cardano focuses on incremental upgrades and real-world implementation across education, identity verification, and supply chain tracking—particularly in emerging markets.
Its recent advancements in smart contract functionality and cross-chain interoperability also position ADA as a serious player in the decentralized finance (DeFi) space. These fundamental strengths support the argument that ADA is more than just a speculative asset—it’s a platform designed for lasting impact.
Although slower in development compared to some competitors, Cardano’s methodical pace may actually work in its favor when it comes to regulatory scrutiny. A transparent, evidence-based development process can help counter claims that it was marketed as an investment contract.
The Road to Altcoin ETFs: Regulatory Hurdles and Global Shifts
While investor enthusiasm for altcoin ETFs is growing, regulatory challenges remain significant. The U.S. Securities and Exchange Commission (SEC) has consistently applied strict standards, often viewing tokens like SOL and ADA through the lens of the Howey Test—which determines whether an asset qualifies as a security.
However, Garlinghouse believes change is inevitable. He notes that countries like Japan, Singapore, Switzerland, and the UK are ahead of the U.S. in establishing clear crypto frameworks. International precedent may eventually pressure American regulators to adopt more progressive policies.
Moreover, political momentum is building. As seen with increasing crypto advocacy from figures across the political spectrum—including support from certain 2024 presidential candidates—the conversation around digital assets is shifting from niche to mainstream.
“No one wants to own just one commodity. If you own gold, you probably want silver too,” says Garlinghouse. “The same logic applies to crypto.”
This analogy underscores a critical point: diversification is fundamental to investing. Just as commodity ETFs cover multiple metals, future crypto ETFs may need to include a basket of leading digital assets beyond just Bitcoin and Ethereum.
Frequently Asked Questions (FAQ)
Q: Can XRP, SOL, or ADA be approved for ETFs in the U.S.?
A: While no approvals have been granted yet, growing institutional interest and global regulatory progress suggest it's possible—though likely still years away for most altcoins.
Q: Why does regulation matter for crypto ETFs?
A: The SEC must determine whether a cryptocurrency is a security. If deemed a security, it falls under stricter rules, making spot ETF approval much harder.
Q: How do other countries handle crypto ETFs?
A: Markets like Canada and Europe have already launched multi-asset crypto ETFs. Jurisdictions such as Switzerland and Singapore offer clearer legal pathways, encouraging innovation.
Q: Is there a futures market for SOL or ADA?
A: Currently, there is no major futures contract for SOL or ADA on regulated exchanges like CME—unlike Bitcoin and Ethereum, which had futures trading before their spot ETFs were approved.
Q: What makes XRP different from other altcoins?
A: XRP focuses on real-world utility in cross-border payments and has established partnerships with financial institutions—factors that strengthen its case as non-security digital asset.
Q: Will political support influence crypto regulation?
A: Yes. Increasing bipartisan interest in crypto policy suggests that regulatory reform could accelerate, especially if digital assets become a voting issue.
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Final Thoughts: A Diversified Crypto Future
Brad Garlinghouse’s bullish outlook on XRP, SOL, and ADA reflects a broader vision for the future of digital finance—one where cryptocurrency ETFs extend beyond Bitcoin and Ethereum to include purpose-driven, scalable blockchains with real-world utility.
While regulatory approval in the U.S. remains uncertain and timelines unclear, global momentum is building. As technological maturity meets increasing demand for diversified exposure, the case for altcoin ETFs grows stronger.
Whether through single-asset funds or diversified baskets, investors may soon have more options than ever to gain regulated access to top-tier digital assets. The journey isn’t over—but we’re undoubtedly moving forward.
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