During a recent appearance on Bloomberg, Ripple CEO Brad Garlinghouse confidently stated that the introduction of an XRP ETF was “just inevitable.”
He has also predicted that an XRP ETF will do “quite well” due to a growing community around the XRP ecosystem.
Garlinghouse also took a dig at the U.S. Securities and Exchange Commission, arguing that it was dragged “kicking and screaming” to approve Bitcoin ETFs in January.
Of course, ETFs ended up being a resounding success, with BlackRock’s IBIT alone recently surpassing a total of $23 billion worth of inflows.
The Ripple boss views ETFs as a key bullish catalyst for various cryptocurrencies, including XRP, claiming that crypto prices experience “upward pressure” because of these products.
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According to Garlinghouse, cryptocurrency ETFs are seeing demand from both retail and institutional investors.
So far, only Bitcoin and Ethereum have their own spot ETFs in the US. However, Solana and XRP have emerged as the likeliest candidates to get their own ETFs in the future.
As reported by U.Today, Bitwise made a trailblazing move by filing for an XRP-based spot ETF in early October.
Shortly after this, the SEC filed its appeal in the Ripple case. However, the agency has revealed that it will not appeal the legal status of the controversial XRP token.
Notably, Canary Capital, a firm spearheaded by alternative asset manager Valkyrie, has also joined the race with its own filing despite Ripple’s legal issues.
Legal analyst Jake Chervinsky recently opined that gaining exposure to the altcoin via an ETF might be viewed as acceptable by the SEC.
