Ripple CEO Brad Garlinghouse has hinted at the possibility of an XRP ETF following the approval of the Ethereum ETF. However, the outcome of the Ripple v. SEC case will play a crucial role in determining if an XRP ETF will be approved.
The recent approval of several Ethereum spot ETFs by the SEC has sparked speculation about the next crypto ETF to be filed and potentially approved. XRP, the native token developed by Ripple Labs, is considered a leading candidate for an ETF. The approval of these ETFs marks a shift in regulators’ stance towards the crypto industry.
Industry experts believe that the approval of an Ethereum ETF will pave the way for other crypto ETFs. Alongside XRP, other potential candidates include Solana and Litecoin. Solana’s appeal to institutional investors makes it a strong contender, while Litecoin’s similarities to Bitcoin make it an attractive option.
XRP stands out as the only cryptocurrency with legally protected status, thanks to a ruling last year that declared XRP tokens were not securities. Although the legal battle is ongoing, legal experts anticipate a favorable outcome for Ripple. This legal clarity could attract institutional investors and potentially lead to the introduction of an XRP ETF.
Garlinghouse has shown support for the idea of an XRP ETF by liking posts on the topic on the X platform. In a previous interview, he acknowledged the inevitability of an ETF but did not provide a timeline. Former Ripple director Sean McBride has suggested that an XRP ETF could emerge by 2025.
There were previous rumors that BlackRock was working on an XRP ETF, but the company later denied these claims. The ongoing Ripple v. SEC case may pose challenges to the filing and approval of an ETF. However, as the case nears its conclusion, institutional interest may increase, driving demand and pushing prices to new highs.