Despite the ongoing legal conflict between the US Securities and Exchange Commission (SEC) and Ripple, the company’s CEO, Brad Garlinghouse, has said that an XRP ETF is “inevitable.” Indeed, Galinrhouse spoke to Bloomberg regarding the cryptocurrency and why it could be next in line for the investment vehicle.
In January of this year, Bitcoin became the first crypto-based ETF in the United States. Just three months later, the leading cryptocurrency catapulted to an all-time high of $73,000. With Ethereum being the next digital asset to get approval, Garlinghouse believes in Ripple’s chances of being next up.
Also Read: Ripple Case & SEC Enforcement: Clarity from Lawyer, Gensler’s Stance
Ripple CEO Says an XRP ETF is ‘Just Inevitable’
Throughout 2024, ETFs have become a popular point of discussion within the crypto community. The investment vehicle has been critical to increasing Bitcoin exposure and seeing adoption among institutional investors surge. Now, after BTC and ETH, all eyes are on who could be next
According to Ripple CEO Brad Garlinghouse, the presence of an XRP ETF is “inevitable.” In a recent interview, Garlinghosue discussed why it was just a matter of time before the product was approved, despite its ongoing legal spat with the SEC.
Also Read: Ripple: How Long Will It Take To Turn $1000 XRP Into $500,000?
“We clearly are seeing that ETFs have been popular,” Garlinghouse told Bloomberg. “The United States SEC was dragged, kicking and screaming, to approve the Bitcoin ETF in January.” Moreover, he noted that since the approval, “$17 billion has flowed into the fastest-growing ETF in history.”
“It clearly demonstrates that there’s demand from institutions and retail to access the asset class,” he added. Thereafter, he assured that XRP’s place as a crypto with an ETF is “just inevitable.” In October, Bitwise became the first company to file for such an ETF with the SEC. The seventh largest crypto by market cap, it does feel as though Ripple is destined to be offered through the investment product.
Credit: Source link
