Despite the ongoing legal conflict between the US Securities and Exchange Commission (SEC) and Ripple, the companyās CEO, Brad Garlinghouse, has said that an XRP ETF is āinevitable.ā 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 Rippleās chances of being next up.
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Ripple CEO Says an XRP ETF is āJust Inevitableā
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 āinevitable.ā 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.
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āWe clearly are seeing that ETFs have been popular,ā Garlinghouse told Bloomberg. āThe United States SEC was dragged, kicking and screaming, to approve the Bitcoin ETF in January.ā Moreover, he noted that since the approval, ā$17 billion has flowed into the fastest-growing ETF in history.ā
āIt clearly demonstrates that thereās demand from institutions and retail to access the asset class,ā he added. Thereafter, he assured that XRPās place as a crypto with an ETF is ājust inevitable.ā 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.
