In a recent appearance on Bloomberg, Ripple CEO Brad Garlinghouse confidently stated that the introduction of an XRP ETF is “just inevitable.”
He also predicted that the XRP ETF will “do quite well” due to the growth of the community around the XRP ecosystem.
Garlinghouse also grilled the U.S. Securities and Exchange Commission, claiming it was dragged along “screaming” in approving a Bitcoin ETF in January.
Of course, the ETF ended up being a huge success, recently surpassing $23 billion worth of total inflows into BlackRock’s IBIT alone.
The head of Ripple sees ETFs as a major bullish catalyst for various cryptocurrencies, including XRP, and claims that these products are putting “upward pressure” on crypto prices.
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Garlinghouse said there is demand for crypto ETFs from both retail and institutional investors.
So far, only Bitcoin and Ethereum have their own spot ETFs in the US. However, Solana and XRP have emerged as the most likely candidates to get their own ETFs in the future.
As reported by U.Today, Bitwise made a pioneering move in early October to file for an XRP-based spot ETF.
Shortly after this, the SEC filed an appeal in the Ripple case. However, authorities have made it clear that they will not appeal the legal status of the controversial XRP token.
Notably, Canary Capital, led by alternative asset manager Valkyrie, has also joined the race with its own filing, despite Ripple’s legal issues.
Legal analyst Jake Cherbinski recently opined that gaining exposure to altcoins through ETFs could be deemed permissible by the SEC.
