As a seasoned researcher and observer of the cryptocurrency market with over a decade of experience, I find Brad Garlinghouse’s comments about the impending XRP ETF quite intriguing. While I have seen many predictions come and go, his confidence in this matter seems well-founded, especially given the growing community around the XRP ecosystem and the success of Bitcoin and Ethereum ETFs.
In a recent chat with Bloomberg, the head honcho at Ripple, Brad Garlinghouse, expressed high confidence that the launch of an Exchange Traded Fund (ETF) for XRP is simply unavoidable. As a crypto investor, this optimistic forecast fills me with anticipation.
He has also predicted that an XRP ETF will do “quite well” due to a growing community around the XRP ecosystem.
Additionally, Garlinghouse criticized the U.S. Securities and Exchange Commission, suggesting that they reluctantly agreed to allow Bitcoin ETFs in January after much resistance.
Of course, ETFs ended up being a resounding success, with BlackRock’s IBIT alone recently surpassing a total of $23 billion worth of inflows.
As a researcher, I perceive Exchange-Traded Funds (ETFs) as a significant positive factor driving the price increase of several digital currencies, including XRP. The CEO of Ripple believes that these financial products exert an “upward pressure” on crypto prices.
Based on Garlinghouse’s statements, there is growing interest in Cryptocurrency Exchange-Traded Funds (ETFs) among both individual and large-scale investors.
Currently, only Bitcoin and Ethereum are approved for exchange-traded funds (ETFs) in the U.S. Yet, it appears that Solana and Ripple (XRP) may be strong contenders for ETF approval in the future.
According to U.Today’s report, Bitwise took a groundbreaking step by submitting an application for an Exchange Traded Fund (ETF) based on XRP at the start of October.
Following the initial development, I found myself closely monitoring the unfolding events in the Ripple case. Interestingly, the Securities and Exchange Commission (SEC) chose to press on with their appeal. Yet, what intrigued me was the disclosure that they would not be challenging the legal standing of the XRP token – a move that adds another layer of complexity to this highly debated crypto asset.
Of particular interest is that Valkyrie-led Canary Capital, an investment company specializing in alternative assets, has entered the competition by submitting their own application, even as Ripple faces ongoing legal challenges.
According to legal expert Jake Chervsky, investing in an ETF that includes altcoins could potentially be seen as permissible by the Securities and Exchange Commission (SEC).
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2024-10-23 23:19