Ripple CEO hints at XRP ETFs after SEC's Ether application approvals

Following the recent approval of eight spot Ethereum 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). 
Dot
May 25, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
Brad Garlinghouse; Photo Source: Ripple/Swell 2018 (YouTube)

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.

Ripple CEO hints at XRP ETFs after SEC's Ether application approvals

HomeAltcoins
Contents
Brad Garlinghouse; Photo Source: Ripple/Swell 2018 (YouTube)

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.

Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

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.

Written by
Ayush Pande