Brad Garlinghouse, the CEO of Ripple, is confident about the upcoming launch of XRP ETFs, stating that it is “inevitable” and expected within six months. He credits the U.S. SEC’s recent approval of Ethereum ETFs as a sign of their openness to crypto spot ETFs.
As the crypto market gears up for the launch of the Ethereum ETF, other altcoin players are also considering the idea of introducing their own ETFs. In a recent interview with Fox Business, Garlinghouse expressed his optimism regarding the imminent launch of XRP ETFs. Initially predicting a launch by 2025, he now believes that an XRP ETF is on the horizon sooner than expected.
Garlinghouse highlighted the growing interest in crypto ETFs, pointing to the rapid rise of U.S. Bitcoin spot ETFs to multi-billion dollar valuations in just two months, a feat that took investments in gold years to achieve. He emphasized the need for diversification in the market to offer investors more opportunities, stating that it makes sense to have a variety of commodities available. Garlinghouse suggested that XRP ETFs could become strong contenders in the market.
In a recent statement, Garlinghouse hinted at the eventual introduction of XRP, Solana, and Cardano ETFs, emphasizing that it is only a matter of time before they become available. He believes that XRP, Solana, and Cardano ETFs will be embraced by investors seeking diversification options.
Addressing concerns about potential resistance from the SEC due to Ripple’s history, Garlinghouse believes that the regulator will struggle to justify any pushback against an XRP ETF. He highlighted XRP’s market ranking just behind Bitcoin as evidence of its potential and the demand for diversification in the market.
Garlinghouse also expressed confidence in the impact of the cryptocurrency sector on the upcoming U.S. elections, anticipating a positive outcome due to the rise of “crypto voters.” He believes that this new demographic will play a significant role in the elections. Additionally, he mentioned plans for an IPO outside the U.S. if SEC chair Gary Gensler continues to lead the agency.