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Sujit Kumar
Jun 5, 2024
by Sujit Kumar

Ripple CEO Brad Garlinghouse Predicts Inevitable XRP ETF Approval

XRP ETF Approval

Table of contents

  1. XRP's Market Position
  2. Inevitability of XRP ETF
  3. SEC's Role and Legal Battles
  4. Ripple CEO's Perspective
During a recent appearance on Fox Business, Ripple CEO Brad Garlinghouse emphasized the need for multiple altcoin exchange-traded funds (ETFs), highlighting investors' desire for diversified exposure in the cryptocurrency market. Garlinghouse argued that just as investors seek exposure to various commodities like gold and silver, they similarly seek diversified exposure in digital assets.

XRP's Market Position

Garlinghouse pointed out that XRP, once the second-largest digital asset by market capitalization, has now slipped to the eighth position, with a market cap of approximately $29 billion. He attributed this decline partly to the SEC's focus on Ethereum (ETH) as a leading digital asset, following its legal battle with Ripple.

[embed]https://Twitter.com/BankXRP/status/1798075950586012113[/embed]

Inevitability of XRP ETF

Garlinghouse reiterated his stance, previously mentioned at the Consensus conference, that the approval of an XRP ETF is "inevitable." He also expressed expectations for ETFs for other cryptocurrencies like Solana (SOL) and Cardano (ADA) to be launched.

SEC's Role and Legal Battles

Despite potential resistance from the SEC due to ongoing legal disputes, Garlinghouse remained optimistic about the approval of XRP ETFs. He referenced the SEC's losses in court battles and highlighted the recent approval of spot Ethereum ETFs as a significant development, indicating a positive trend for crypto market accessibility.

Ripple CEO's Perspective

Reflecting on the SEC's historical reluctance towards crypto ETFs, Garlinghouse remarked on the regulator's eventual approval of spot Bitcoin ETFs earlier this year. He emphasized the importance of legal battles in shaping regulatory outcomes and expressed frustration at the necessity of court interventions for positive outcomes.

Garlinghouse's comments shed light on the evolving landscape of cryptocurrency regulation and market dynamics, offering insights into the potential impact of XRP ETF approval on investor participation and market growth.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Brad Garlinghouse XRP ETF Approval
Ripple CEO Brad Garlinghouse Predicts Inevitable XRP ETF Approval
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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