🌋 XRP ETF Is Inevitable: Brad Garlinghouse
posted 24 Oct 2024
According to Ripple CEO Brad Garlinghouse, an XRP ETF (Exchange-Traded Fund) is inevitable.
In a Bloomberg Television interview on October 23, Garlinghouse mentioned the exceptional performance of Bitcoin ETFs and predicted that more crypto-related products will follow, as both institutional and retail investors show increasing interest in crypto as an asset class.
Earlier this month, crypto asset manager Bitwise applied to the US SEC to launch an ETF tracking XRP. Canary Capital Group was the next to file for such a product.
Speaking about prices, Garlinghouse noted that institutional demand is creating upward pressure on cryptocurrencies, including XRP, suggesting that prices may rise. Regarding an XRP ETF, he highlighted strong community interest and activity both in the US and globally, which leads him to believe that the product will perform well.
In a separate conversation with CNBC, Garlinghouse predicted forward progress for cryptocurrencies following the upcoming US elections, regardless of who wins. He noted Trump's proactive stance on crypto and added that Kamala Harris has been supportive of technology, although she has not specifically addressed the crypto industry.
Garlinghouse also criticized the previous administration for being hostile toward crypto.In 2020, the SEC sued Ripple for selling XRP as an unregistered security, and the case is still ongoing.
Speaking about prices, Garlinghouse noted that institutional demand is creating upward pressure on cryptocurrencies, including XRP, suggesting that prices may rise. Regarding an XRP ETF, he highlighted strong community interest and activity both in the US and globally, which leads him to believe that the product will perform well.
In a separate conversation with CNBC, Garlinghouse predicted forward progress for cryptocurrencies following the upcoming US elections, regardless of who wins. He noted Trump's proactive stance on crypto and added that Kamala Harris has been supportive of technology, although she has not specifically addressed the crypto industry.
Garlinghouse also criticized the previous administration for being hostile toward crypto.In 2020, the SEC sued Ripple for selling XRP as an unregistered security, and the case is still ongoing.
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