Brad Garlinghouse, the CEO of Ripple, is confident that the U.S. Securities and Exchange Commission (SEC) will give the green light to spot XRP ETFs in the coming year, stating that it is an inevitable development. In a recent interview with Fox Business, he discussed the evolving landscape of cryptocurrency regulations in the U.S., emphasizing the SEC's shift towards a more practical approach following legal setbacks.
Garlinghouse highlighted the potential approval of additional crypto exchange-traded funds beyond the existing offerings for bitcoin and ether. He noted the SEC's recent approval of 19b-4 forms for eight spot ethereum ETFs as a sign of their changing stance. Reflecting on their past reluctance and the challenges faced in court battles, he remarked, "It's frustrating that we have to resort to legal battles for positive outcomes. The U.S. should be embracing and investing in these technologies."
The Ripple CEO expressed his disappointment with the U.S.'s lagging approach to cryptocurrencies compared to countries like the UK, Japan, Singapore, and Switzerland. He pointed out the need for the U.S. to catch up and adapt to the evolving landscape of digital assets.
Ripple's contributions to the Fairshake Super PAC, alongside donations from Coinbase and Andreessen Horowitz, aim to support crypto-friendly candidates and influence regulatory policies in the U.S. Garlinghouse remains optimistic about the eventual approval of XRP ETFs by the SEC, predicting a broader acceptance of crypto ETFs in the near future.
Despite the ongoing court case between Ripple and the SEC, Garlinghouse believes that the arguments against XRP ETF approval are weak. He emphasized the importance of diversification in investment portfolios, suggesting that exposure to various assets is essential for a well-rounded strategy.
Looking ahead, Garlinghouse anticipates the launch of an XRP ETF by 2025, underscoring the growing acceptance and integration of digital assets into mainstream financial markets. The question remains whether the SEC will indeed approve XRP ETFs in the near future, leaving room for speculation and anticipation among investors and enthusiasts alike. Share your thoughts on Garlinghouse's predictions in the comments below.