Ripple CEO Reveals XRP ETF Approval Date
The timeframe for an XRP ETF has been revealed by Ripple CEO Brad Garlinghouse. Garlinghouse predicted an XRP ETF at Consensus 2024.
Garlinghouse discussed the regulatory landscape of cryptocurrencies in an exclusive Fox Business interview on June 4, emphasizing the SEC's approval of Ethereum Spot ETFs and the potential introduction of an XRP ETF.
Garlinghouse agreed that Ethereum Spot ETFs might start trading by July 2024 when asked whether they will start next month.
The Ethereum Spot ETF is “a big deal,” he said, since it expands worldwide investor access. He also said that Spot Bitcoin ETFs have generated billions in inflows, demonstrating investor interest in the asset class.
Garlinghouse predicts an XRP ETF by 2025, citing Ethereum and XRP's functional and decentralized commonalities.
Last week at Consensus 2024, Ripple CEO said an XRP ETF was imminent. He told Fox Business that the SEC's approval of Bitcoin and Ethereum ETFs opens the door for additional cryptocurrency ETFs.
Garlinghouse also recognized that the US SEC may complicate XRP ETF clearance. He believes the regulator will approve an XRP ETF.
He stated that investors prefer diversification versus single-product exposure. Growing demand in Spot Ethereum and Bitcoin ETFs might lead to the introduction of new crypto ETFs, including Solana, XRP, and Cardano.
Garlinghouse was asked about the likely causes of Bitcoin, Ethereum, and XRP's rapid spike during the previous week. Following Ethereum Spot ETF certification, Bitcoin has topped $70,000 and Ethereum has seen significant inflows, according to the interviewer.
XRP has gained 1.17% in 24 hours and is trading at $0.52, according to CoinMarketCap. Garlinghouse stated that US political factors drove the unanticipated market surge.
The Ripple CEO said that the US has lagged in cryptocurrency invention and development while being the world's biggest economy.
#XRP #Ripple $XRP #ETHETFsApproved #altcoins @Ripple Network
