Brad Garlinghouse, Ripple’s CEO, discussed potential XRP ETFs citing Bitcoin and Ethereum ETF launches as precedents.
Brad Garlinghouse, the Chief Executive Officer of Ripple, shared his thoughts on the anticipated developments in the future of cryptocurrencies, including the introduction of exchange-traded funds (ETFs) based on XRP, during an interview on Fox Business.
Garlinghouse Emphasizes Certainty of XRP ETFs
Based on the recent launch of exchange-traded funds (ETFs) for Bitcoin and Ethereum, his forecasts suggest that other cryptocurrencies, like XRP, could potentially receive ETFs by 2025. Brad Garlinghouse’s recent remarks reflect the growing interest and speculation surrounding the potential introduction of an exchange-traded fund (ETF) for XRP.
‘It is only a matter of time and it is inevitable there’s going to be an XRP ETF.’
During the conversation, he expressed his confidence in the imminent approval of XRP, citing the recent acceptance of Ethereum exchange-traded funds (ETFs). Furthermore, he discussed the expansion of investment opportunities beyond Bitcoin and Ethereum, suggesting that XRP could potentially join cryptocurrency exchange-traded funds (ETFs).
The Chief Executive Officer of Ripple also made a comment regarding the necessity of having a clear legal framework, which he stated is essential in order to advance and accept bitcoin exchange-traded funds (ETFs). Garlinghouse clarifies that the existence of cryptocurrencies remains possible, given the establishment of an appropriate regulatory environment.
By hinting that effective regulation will significantly increase the likelihood of an XRP ETFs, he stressed the significance of the regulators adapting and growing in tandem with the expansion of the market.It is impossible to completely isolate the discussion of XRP ETFs from the larger context of cryptocurrency regulation in the United States.
Ripple and other important names in the cryptocurrency business, such as Coinbase and Grayscale, have lobbied for the United States Securities and Exchange Commission (SEC) to adopt a regulatory approach that is more welcoming.
Their goal is to persuade the Securities and Exchange Commission (SEC) to revise its regulatory framework so that it better reflects the reality of the contemporary digital asset market. The legal issues Ripple is currently facing are partially driving the need for regulatory clarification.
The SEC recently brought a substantial lawsuit against Ripple, accusing the company of engaging in unlawful XRP sale practices to institutional investors. This case highlights the complexities and uncertainties surrounding cryptocurrency rules in the United States, which could have an impact on the timing of the introduction of XRP ETFs, as well as the practicality of doing so.
During these discussions, the price of XRP has been on an upward trend, fluctuating between a 24-hour high of $0.53 and a low of $0.5185.At the time of publication, the price of XRP was trading at $0.5254, representing a 0.92% increase from the level that served as support. While this was happening, the market capitalization of XRP increased by 0.92%, while its 24-hour trading volume increased by 6.43%, reaching a total of $29,127,941,177 and $1,161,873,100, respectively.