Brad Garlinghouse, the CEO of Ripple Labs, has expressed his belief that the approval of an exchange-traded fund (ETF) for XRP is “inevitable.” This comes after years of legal battles with the U.S. Securities and Exchange Commission (SEC) over the classification of XRP as a security.
Garlinghouse pointed to the recent success of Bitcoin ETFs, which have seen significant inflows of capital, as evidence of the growing institutional demand for cryptocurrencies. He said that the approval of Bitcoin ETFs has paved the way for other digital assets, including XRP, to gain exposure through ETFs.
In recent weeks, Bitwise Asset Management and Canary Capital Group have both filed applications with the SEC for XRP ETFs. These filings indicate a growing interest from financial institutions in offering XRP to their clients through ETFs.
Garlinghouse said the SEC’s initial resistance to approving Bitcoin ETFs, noting that the agency was “dragged, kicking, and screaming” to approve them. He suggested that the growing popularity of crypto ETFs and the increasing institutional participation in the industry are putting pressure on the SEC to approve ETFs for other digital assets.
The approval of an XRP ETF could have significant implications for the cryptocurrency market. It would provide investors with a more accessible and regulated way to invest in XRP, potentially driving up demand and increasing its price. Additionally, it could further legitimize XRP and the broader cryptocurrency industry.
