Ripple CEO Optimistic About XRP ETF and Future Crypto ETFs
The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, is positive about the possibility of an XRP Exchange Traded Fund (ETF) and believes that more cryptocurrency ETFs will enter the market in the future. In an interview with Bloomberg Television, Garlinghouse expressed his support for an XRP ETF and stated that they would welcome its launch. He also compared the evolution of the stock market to that of ETFs, indicating that it is a natural progression to diversify investment risks through new ETF offerings.
However, Garlinghouse admitted that he doesn’t know when an XRP ETF will be introduced, but he believes it is inevitable based on the approval and launch of Spot Bitcoin ETFs.
Garlinghouse Calls for Regulatory Clarity in Cryptocurrency Industry
During the interview, Garlinghouse also discussed the current regulatory landscape for cryptocurrencies and the actions taken by the US Securities and Exchange Commission (SEC). He mentioned that Ripple has consistently advocated for better regulatory clarity before facing a lawsuit from the SEC. Garlinghouse believes that the legal battle has had positive effects, including prompting other countries to address cryptocurrencies and establish appropriate regulations.
Garlinghouse highlighted setbacks faced by the SEC in regulating cryptocurrencies, such as their reluctant approval of Spot Bitcoin ETFs and recent legal victories for entities like Grayscale. He emphasized the need for improved regulatory measures and enforcement approaches in dealing with cryptocurrencies.
Hot Take: Ripple CEO Supports XRP ETF But Faces Legal Challenges
The CEO of Ripple, Brad Garlinghouse, has expressed his support for an XRP Exchange Traded Fund (ETF), believing that it is likely to be introduced in the future. However, there is uncertainty regarding when this will happen. Garlinghouse compared the development of cryptocurrency ETFs to that of the stock market, indicating that it is a natural progression to diversify investment risks.
Despite the positive sentiment surrounding an XRP ETF, there are legal challenges that Ripple faces with the SEC, making the approval of an XRP ETF in 2024 unlikely. In addition, Garlinghouse stressed the need for better regulatory clarity and enforcement approaches in the cryptocurrency industry.
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