Ripple CEO Bullish On XRP ETF Approval From SEC, Says ‘Inevitable’ 

• Ripple CEO Brad Garlinghouse is optimistic about an XRP exchange-traded fund approval from the SEC.
• He is optimistic about XRP to follow Bitcoin’s path, where its ETF is approved.
• Other crypto community members are in doubt due to the legal battle of Ripple with the US SEC.

Ripple Labs CEO Brad Garlinghouse showed confidence in the potential approval of a spot XRP ETF in the United States by the US SEC. He is optimistic about introducing XRP ETF after the successful launch of Bitcoin ETFs earlier this year. 

Many crypto community members are doubtful as Ripple faces a legal battle with the US Securities and Exchange Commission (SEC). Ripple CEO’s recent comment on XRP ETF came after a surge in the demand for cryptocurrency ETFs. 

Asset management firm Bitwise applied to list an XRP ETF product a few months back. All these things indicate a bright future for XRP ETF in the crypto market. 

Ripple CEO’s Confidence In XRP ETF 

Brad Garlinghouse said “it’s just inevitable” that the company’s XRP cryptocurrency will be offered through an exchange-traded fund (ETF). Then, he added that there’s great demand from institutions and retailers to access this asset class. 

There is a significant inflow of capital into Bitcoin ETFs in January. It has seen approximately $17 Billion invested. Also, Garlinghouse thinks that the institutional interest will likely create upward pressure on the price of XRP.

The push for XRP ETFs gained momentum when Bitwise became the first firm to file with the SEC for a spot XRP ETF. After that, asset manager Canary Capital also filed for an application to launch an XRP-based ETF. 

Chances Of SEC’s Approval For XRP ETF 

Brad Garlinghouse also discussed the SEC’s earlier resistance to approving Bitcoin ETFs. He said that the SEC approved Bitcoin and Ethereum ETFs even after they didn’t want to do it. 

Now, Garlinghouse is expecting the same for the approval of XRP ETF. Ripple’s CEO focuses on the broader demand for cryptocurrency investment products like ETFs. He is optimistic that the SEC’s stand against cryptocurrency ETFs will inevitably crumble due to market demands.

However, XRP ETF is still at risk due to the ongoing dispute with Ripple. In 2020, the SEC filed a lawsuit against Ripple for conducting an unregistered securities offering by selling XRP tokens. 

The legal battle has not yet ended, as the SEC has recently filed a notice of appeal against Judge Analisa Torres’s ruling in this case. So, we cannot expect an immediate approval for an XRP ETF.

Increasing Demand For Crypto ETFs In The Market 

The demand for cryptocurrency ETFs has surged in recent times. Many investors are interested in regulated crypto ETFs. Also, it has created a stable crypto market for the investors.

ETFs are helping to integrate cryptocurrencies into mainstream financial markets faster than expected. These factors collectively contribute to the growing popularity and demand for crypto ETFs. 

Disclaimer

This article is for informational purposes only. Crypto investment involves inherent risks due to the volatility in price. Readers should conduct their own research before making any investment decision. Also, you can consult a crypto expert before investing in cryptocurrencies.