As a seasoned crypto investor with a keen interest in the regulatory landscape and market trends, I find Brad Garlinghouse’s prediction of an XRP ETF by 2025 to be an exciting development. The recent approval of Ethereum Spot ETFs is indeed a significant milestone that broadens market access for global investors, as Garlinghouse rightly pointed out.
At the Consensus 2024 conference, Ripple‘s CEO Brad Garlinghouse shared insights into the possible timeframe for an exchange-traded fund (ETF) based on XRP. Previously, he expressed his belief that such an ETF was unavoidable.
XRP ETF Slated For 2025
During a private conversation with Fox Business on the 4th of June, Garlinghouse shared his perspectives on the present cryptocurrency regulatory situation. He highlighted the SEC’s recent green light for Ethereum Spot ETFs in the US and speculated about the prospective launch of an XRP ETF.
Garlinghouse agreed when asked about the possibility of Ethereum Spot ETFs being traded by next month, indicating that it might be as late as July 2024 for their market debut.
The executive highlighted the significance of the Ethereum Spot ETF’s entry into the market as a major development, expanding investment opportunities for international investors. Furthermore, he referenced the successful debuts of Spot Bitcoin ETFs, showcasing the massive inflows of funds, which is a clear indication of the immense demand and investor enthusiasm towards this digital asset class.
According to Garlinghouse’s prediction, an XRP Exchange-Traded Fund (ETF) is anticipated to be launched by 2025. He underscores the functional and decentralized resemblances between Ethereum and XRP.
At the Consensus 2024 conference last week, Ripple’s CEO expressed his belief that an XRP Exchange-Traded Fund (ETF) was imminent. In conversation with Fox Business, he pointed out that the SEC’s approval of Bitcoin and Ethereum ETFs signaled a growing trend towards cryptocurrency ETFs becoming available in the market in the near future.
Garlinghouse acknowledged that the US Securities and Exchange Commission (SEC) could pose obstacles during the approval process for an XRP Exchange-Traded Fund (ETF). Nevertheless, he expressed optimism that the regulatory body would eventually give its approval.
Investors today prefer spreading their investments across various products rather than concentrating on a single one. In the realm of Exchange-Traded Funds (ETFs), this trend signifies a potential surge in the acceptance of more Ethereum and Bitcoin ETFs. Consequently, there’s an increased likelihood that regulators will approve crypto ETFs based on other popular cryptocurrencies such as Solana, XRP, and Cardano.
XRP Price Experienced Slight Uptick
During the interview, Garlinghouse was asked to discuss the reasons for the price increase of cryptocurrencies like Bitcoin, Ethereum, and XRP in the past week. The interviewer mentioned that Bitcoin had reached over $70,000, while Ethereum saw significant investment due to the recent approval of Ethereum Spot Exchange-Traded Funds (ETFs).
The latest figures from CoinMarketCap indicate a surge for XRP with a 1.17% gain over the past day and a current value of $0.52. Notably, this growth can be linked to recent political events in the US, as stated by Garlinghouse.
The CEO of Ripple noted that despite being the world’s largest economy, the United States has lagged behind in cryptocurrency advancements and creativity. He revealed that the recent encouragement and focus on the crypto sector from US Presidential candidate Donald Trump have positively impacted the market.
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2024-06-05 21:11