During an interview on Fox Business, the CEO of Ripple, Brad Garlinghouse, disclosed some of his views on the developments that are likely to occur in the future of cryptocurrencies including the launching of XRP ETFs.
His predictions are based on the recent launch of Bitcoin and Ethereum ETFs; hence there are high chances that other cryptocurrencies, such as XRP, will also have ETFs by 2025.
Garlinghouse Emphasizes Certainty of XRP ETFs
Brad Garlinghouse’s recent comments have been made in the backdrop of increasing curiosity and rumours regarding the possible launch of an XRP ETF. In the course of the interview, he said,
‘It is only a matter of time and it is inevitable there’s going to be an XRP ETF.’
He says that the recent approval of Ethereum ETFs gives him confidence that XRP will soon be approved as well. He also elaborated on the expansion of investment possibilities not limited to Bitcoin and Ethereum, suggesting that XRP has potential for inclusion in crypto ETFs.
The Ripple CEO also commented on the need to have a clear legal framework which he said is critical in advancing and accepting of the cryptocurrency ETFs. Garlinghouse explains that the possible of cryptocurrencies is still viable if the right regulatory environment is put in place. He emphasized the importance of the regulators to change and grow as the market expands, implying that proper regulation will highly enhance the chances of an XRP ETF.
Regulatory Developments on Crypto ETFs
The discussion of XRP ETFs cannot be separated from the broader context of cryptocurrency regulation in the United States. Ripple and other prominent names in the cryptocurrency industry, like Coinbase and Grayscale, have advocated for a more accommodating regulatory approach by the U.S. Securities and Exchange Commission (SEC). Their efforts are to convince the SEC to update its regulatory framework to reflect the realities of the modern digital asset market.
The push for regulatory clarity is partly driven by the legal challenges faced by Ripple, which recently contended with a significant SEC lawsuit alleging improper sale practices of XRP to institutional investors. This lawsuit underscores the complexities and uncertainties surrounding cryptocurrency regulations in the U.S., which could impact the timing and feasibility of introducing XRP ETFs.
XRP price Performance
Amid these conversations, XRP’s price has been on a bullish note, with prices moving between a 24-hour high and low of $0.53 and $0.5185 respectively.
At press time, the XRP price was exchanging hands at $0.5254, a 0.92% surge from the support level.
Concurrently, XRP’s market capitalization and 24-hour trading volume surged by 0.92% and 6.43% respectively to $29,127,941,177 and $1,161,873,100.
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