Ripple CEO Brad Garlinghouse Hints at XRP ETFs Post Ethereum Approval

Brad Garlinghouse, the CEO of Ripple, has hinted at the potential launch of XRP exchange-traded funds (ETFs) following the recent approval of Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC).

Prospects of Spot XRP ETFs Post Ethereum Approval

Garlinghouse’s indication of XRP ETFs came through his response on social media to the SEC’s approval of Ethereum ETF applications. This move by the SEC has been seen as a significant step forward for the cryptocurrency industry, prompting speculation about similar developments for XRP.

Earlier, in February, Garlinghouse had expressed confidence in the inevitability of an XRP spot ETF, citing its importance for diversification. However, he remained cautious about providing a specific timeline due to regulatory uncertainties.

Regulatory Challenges and Ripple’s Legal Battles

Despite Garlinghouse’s optimism, regulatory challenges and Ripple’s ongoing legal battle with the SEC present obstacles to the approval of an XRP ETF. The outcome of the lawsuit, which accuses Ripple of selling unregistered securities, will likely influence the feasibility and timing of an XRP ETF.

You say a lot of words but never take a view on anything. Complete gibberish. ‘This could happen but then this could happen or this or this ….’

— Bruno penandes (@Brunopenandes13) May 22, 2024

While Garlinghouse remains hopeful, Bloomberg ETF analyst James Seyffart suggested that Solana (SOL) might be a more probable candidate for an ETF. Seyffart pointed out Solana’s market position and broader appeal, although he noted that regulatory developments could delay its approval until 2026.

The approval of Ethereum spot ETFs and legislative advancements, such as the FIT21 crypto bill, signal progress for the cryptocurrency sector, although the path to an XRP ETF remains uncertain amidst legal and regulatory challenges.

Also Read: Ethereum ETF Approved: Future Predictions for Bitcoin and Altcoins