Following the recent approval of eight spot Ether ETFs by the SEC, Ripple CEO Brad Garlinghouse has suggested that XRP might be the next blockchain to see the launch of exchange-traded funds (ETFs). Garlinghouse made this statement in response to a post on X (formerly Twitter) regarding the US Securities and Exchange Commission's (SEC) approval of all Ethereum (ETH) ETF applications.
Earlier this week, BlackRock, Grayscale, VanEck, Fidelity, and other firms had their Ether ETF applications greenlit by the regulatory agency. Garlinghouse compared the SEC’s approvals and the passing of the FIT21 crypto bill to a "hell freezes over" scenario, a sentiment echoed by many in the community.
In an interview from February, Garlinghouse had already shared his belief in the inevitability of an XRP spot ETF. He emphasized the importance of such an investment product for diversification but did not commit to a specific timeline, citing regulatory uncertainties as a major factor.
Despite Garlinghouse’s optimism, the journey toward an XRP ETF is complex. The ongoing lawsuit between Ripple and the SEC, accusing Ripple of selling unregistered securities, poses a significant obstacle. The resolution of this legal battle will likely play a crucial role in determining the feasibility and timing of an XRP ETF.
When questioned about potential collaborations with asset managers like BlackRock for an XRP ETF, Garlinghouse acknowledged the complexities but did not confirm any specific partnerships.
