Brad Garlinghouse, the CEO of Ripple, recently pointed out the rapid growth and strong investor interest in the world of cryptocurrency by comparing the performance of Bitcoin ETFs to gold ETFs.
Garlinghouse made a significant observation, noting that Bitcoin ETFs have outperformed gold ETFs in terms of asset accumulation and inflows. This comparison highlights a major milestone in the evolution of asset classes.
This shift demonstrates the increasing confidence and interest investors have in cryptocurrency-based ETFs. According to Garlinghouse, Bitcoin ETFs have shown a much steeper upward trajectory compared to gold ETFs.
In a tweet, Garlinghouse mentioned that the anticipation of an XRP ETF suggests a more positive outlook not only for XRP but for the entire cryptocurrency world.
He also compared the debut of SPDR Gold Shares ETF on the New York Stock Exchange in 2004 to the launch of BlackRock’s IBIT Bitcoin ETF. While it took SPDR Gold Shares ETF 3 years to accumulate $10 billion in assets, BlackRock’s IBIT Bitcoin ETF managed to double that amount in just 5 months.
Garlinghouse emphasized that it took Bitcoin ETFs only 2 months to achieve what took Gold ETFs over a year.
This significant growth in the cryptocurrency market reflects a broader trend in the financial system, with investors increasingly seeking exposure to cryptocurrencies for their potential high returns and other benefits.
Garlinghouse also highlighted the importance of diversifying investments, stating that people are not satisfied with exposure to just one asset. He believes that the approval of Ethereum ETFs will follow the successful trend, further expressing a positive outlook for the cryptocurrency industry.
In line with this, Garlinghouse believes that the approval of various crypto ETFs, including Ethereum and XRP, will cater to the needs of investors who seek to diversify their assets.
Garlinghouse also focused on XRP as a potential breakout coin, emphasizing the potential for an XRP ETF in the near future. This optimism was supported by Ripple’s President, Monica Long, who highlighted XRP’s strong market position and substantial daily trading volumes.
Overall, the anticipation of XRP ETFs has generated speculation about the price of XRP, which has seen a 0.58% surge in the past week, indicating a positive market sentiment towards the token.