Garlinghouse Forecasts Inevitable XRP ETF After ETH
After the approval of Ethereum Spot ETFs by the SEC, Ripple CEO Brad Garlinghouse predicts an XRP ETF in the U.S., emphasizing however the need for clear regulations to advance the cryptocurrency sector.
As the cryptocurrency landscape evolves, Ripple CEO Brad Garlinghouse has made a bold prediction: the inevitability of an XRP exchange-traded fund (ETF) in the U.S. This forecast reflects a growing confidence in the sector’s future, despite existing regulatory hurdles.
Garlinghouse, speaking at various industry events, has consistently highlighted the advancement of crypto ETFs, such as those recently approved for Ethereum. These developments signify a gradual acceptance of cryptocurrencies in mainstream finance, setting the stage for other digital assets like XRP, Solana or Cardano to have their own spot ETFs. He insists that it’s just a matter of time before similar products are greenlit, encouraging anticipation within the investment community.
The regulatory landscape, however, remains a complex challenge. Garlinghouse has openly criticized the SEC for its lack of clarity, particularly around defining cryptocurrencies as securities. SEC Chair Gary Gensler has been non-committal in clarifications, further complicating the regulatory framework. This ambiguity has affected not just Ripple but the entire crypto industry, making it difficult for businesses to plan their operations and growth strategies.
Despite these challenges, Ripple is adjusting its strategy by diversifying its global presence, establishing major offices in regulatory-friendly cities such as London, Geneva, and Singapore. This international expansion reflects Ripple’s commitment to adapting to the regulatory environment, ensuring they remain at the forefront of the cryptocurrency movement.
The push for an XRP ETF comes at a time when the U.S. is seen as lacking in regulatory clarity, a sentiment echoed by Garlinghouse who describes it as being in the “bottom decile” of regulatory environments. Yet, this has not dampened the spirits within Ripple, as they continue to advocate for clearer guidelines that could pave the way for further innovation and acceptance of crypto ETFs in the U.S. market.
Industry watchers and investors alike are keenly observing these developments, as the potential approval of an XRP ETF could signal a major milestone for the acceptance of cryptocurrencies in regulated financial markets. With Ripple leading the charge, the future of crypto ETFs looks promising but contingent on much-needed regulatory reform.
