Brad Garlinghouse, the CEO of Ripple Labs Inc, has boldly set a timeline for the introduction of a spot XRP ETF.
Ripple CEO: XRP ETF Launch Is Inevitable
In a conversation with Fox Business reporter Liz Claman, Garlinghouse reiterated his confidence regarding the future potential of XRP ETF. Regarding the timing, he said it is “not too far away” and also suggested it could be launched by next year, 2025.
During the interview, Liz Claman raised concerns about whether the U.S. Securities and Exchange Commission (SEC) could potentially be more resistant to an XRP ETF, considering its past interactions with Ripple. In response, the Ripple CEO suggested that the SEC would face challenges in winning such a case. He underlined XRP’s potential as it was previously in a close position to Bitcoin in market ranking.
Garlinghouse noted that, “People want exposure to various commodities, so an XRP ETF is inevitable”. He emphasized the importance of adding more options for investors to trade.
With Ripple being the biggest seller of XRP, this could position the digital asset as a new contender alongside Ethereum, Bitcoin, Solana, and Cardano in the market.
Additionally, he pointed out that there is significant interest in crypto ETFs. This is underscored by how the US Spot Bitcoin ETFs reached multi-billion dollar valuations in two months, a milestone that took years for gold investments to achieve.
Will XRP ETFs Have an Influence on Asset Value?
Sean McBride, the former Ripple Executive is optimistic about a Ripple-backed XRP ETF, but ETF expert James Seyffart from Bloomberg Intelligence has a different view.
XRP has been stucked for the last month, not really moving above $0.55. However, the chatter around XRP ETF marks progress that is considered a big deal for the token. With Ethereum ETFs getting the green light recently, the talk about XRP ETFs is getting louder, pushing the broader market observers to expect some significant price movements in the long term.
At the time of writing, XRP is priced at $0.526470, up by 1.24% in the last 24 hours.
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