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 highlighted the exceptional performance of Bitcoin ETFs compared to gold ETFs, emphasizing the significant milestone in the evolution of asset classes. This shift demonstrates the growing confidence and interest investors have in cryptocurrency-based ETFs, with Bitcoin ETFs experiencing a much steeper upward trajectory than gold ETFs.
In a recent tweet, Brad Garlinghouse expressed that an XRP ETF is inevitable, indicating a bullish outlook not only for XRP but for the entire crypto world.
Comparing the listing of SPDR Gold Shares ETF on the New York Stock Exchange in 2004 to the debut of BlackRock’s IBIT Bitcoin ETF, Garlinghouse noted that it took the SPDR Gold Shares ETF three years to accumulate $10 billion worth of assets, while the BlackRock’s IBIT Bitcoin ETF achieved double that amount in just five months.
Garlinghouse emphasized that it took Bitcoin ETFs only two months to reach a milestone that took gold ETFs over a year to achieve, showcasing a broader trend in the financial system where investors are seeking exposure to cryptocurrency for potential high gains and diverse benefits.
Furthermore, Garlinghouse predicts that the approval of an Ethereum ETF will follow the successful trend, expressing a positive outlook for the cryptocurrency industry. He highlighted the importance of diversified investments and suggested that the approval of various crypto ETFs, including Ethereum and XRP, would cater to investors who want to spread their assets across different opportunities.
Brad’s focus on XRP as a potential breakout coin also indicates optimism for the launch of an XRP ETF in the near future. Ripple’s President, Monica Long, supported this optimism by highlighting XRP’s strong market position and substantial daily trading volumes, positioning XRP at the forefront of the market.
Overall, the anticipation of XRP ETFs has already led to speculation about XRP’s price, which has seen a 0.58% surge in the past week, reflecting the positive market sentiment surrounding the XRP token. Investors are closely watching the developments in the cryptocurrency world, particularly in relation to ETFs, as they drive price surges and attract increased institutional investment.