In an interview with Fox Business, Brad Garlinghouse, CEO of Ripple, shared his optimistic prediction about the future of crypto ETFs. Despite ongoing legal challenges with the SEC, Garlinghouse believes that an XRP ETF could be launched as early as 2025.
This forecast comes amidst growing acceptance of cryptocurrency ETFs in traditional finance, sparking both excitement and skepticism within the crypto community.
The Ether ETF: A Harbinger of Change
The crypto space is on the brink of another milestone with the anticipated launch of a spot Ether (ETH) ETF as soon as next month. Following the Bitcoin ETF’s rapid success, this development is expected to further open the market to more participants.
Garlinghouse sees this as a positive sign, stating, “The interest in this space remains very, very high and I think the ETH ETF will do extremely well.” This progression hints at a broader trend of mainstream acceptance.
Interestingly, the SEC’s stance on cryptocurrency ETFs has become more pragmatic due to the regulator’s legal setbacks. According to Garlinghouse, numerous court losses have forced the SEC to approve the = ETFs.
Despite this shift, Garlinghouse remains frustrated with the SEC’s slow adoption process. He believes that the United States should invest in these technologies for innovation and job creation, criticizing the SEC for resisting these advancements.
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Read also: Ripple’s XRP Struggle Against Bitcoin (BTC): Is a Breakout on the Horizon or More Stagnation Ahead?
XRP ETF: A Matter of When, Not If Despite legal hurdles,
Garlinghouse is confident about the inevitability of an XRP ETF. He believes that investors desire exposure to multiple cryptocurrencies, not just one. ‘
“People don’t want just exposure to one commodity… it only makes sense you don’t want to have just a single-threaded asset exposure,” he explains. This perspective suggests a future where various crypto ETFs, including XRP, Solana, and Cardano, coexist.
Moreover, on the XRP ETF, he said “I think it’ll probably be 2025, next year… not too far away.” This statement elucidated speculations and reactions in the crypto community with many sharing their views.
Mixed Reactions on the 2025 Forecast
JackTheRippler on Xr expressed ecstatic excitement, calling the news bullish. This reaction highlights the anticipation and optimism within the community for XRP’s future developments.
BOOOOOOOOOOOOOOOOOOM!!!!Brad Garlinghouse – CEO of @Ripple Says "#XRP ETFs probably in 2025."BULLISH! pic.twitter.com/6lrXfcyLmZ
— JackTheRippler © (@RippleXrpie) June 4, 2024
In contrast, TARA was skeptical, tweeting, “#XRP ETF not until 2025??.. WTF! Why is everyone excited about this? The market will be headed into a bear market at that time. XRP.. once again… getting the shaft!“
During the interview, Garlinghouse highlighted XRP’s distinctive features, emphasizing its speed and low cost per transaction. Moreover, he also contrasted Ripple’s system using XRP with traditional methods like Swift. He noted the lack of innovation in Swift over the past 50 to 60 years. Furthermore, Garlinghouse pointed out XRP’s advantages in speed, cost, and efficiency compared to Swift.
Political Landscape: A Shifting Tide
Moreover, Garlinghouse pointed out the growing influence of cryptocurrency advocacy in U.S. politics. He observed a shift towards more favourable views on cryptocurrencies, stating, “You have Donald Trump saying I’m the crypto president, you have Joe Biden making some noise about, you know, come on lay off the regulations a little bit.” This change in political sentiment could further pave the way for crypto ETFs.
Brad Garlinghouse’s prediction of an XRP ETF by 2025 reflects his confidence in the shifting crypto space. As the regulatory attitudes shift, the prospect of diverse crypto ETFs becomes increasingly realistic.
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