During the Paris Blockchain Week, Ripple CEO Brad Garlinghouse shared his thoughts on the possibility of a spot XRP ETF being launched in the market. This discussion has gained traction among industry experts following the successful launch of Bitcoin-based ETFs. Interestingly, asset managers in the US have also expressed interest in introducing spot Ethereum ETFs, although this endeavor may face obstacles.
Contrary to the belief of some Bitcoin enthusiasts, Garlinghouse believes that the US market will witness the emergence of ETFs tracking crypto assets other than BTC. In a Bloomberg interview earlier this year, Garlinghouse expressed his support for a spot XRP ETF, stating that its launch is “inevitable.” He recently reiterated his confidence in the current market conditions, adding that he expects other ETFs to be introduced. However, he acknowledged that it may take some time before these products become available.
Garlinghouse also noted that the SEC’s cautious approach may delay the launch of ETFs. The securities regulator has been postponing its decision on multiple spot Ethereum ETF filings and is reportedly considering classifying ETH as a security. This classification could potentially impact the approval of Ethereum ETFs. Despite this uncertainty, Garlinghouse highlighted that both Bitcoin and XRP have attained legal clarity in the US, which increases the chances of a spot XRP ETF being approved over other crypto assets.
However, some commentators argue that the SEC is unlikely to approve a spot XRP ETF as long as its legal case with Ripple remains unresolved. Additionally, no asset manager has taken the initiative to file for a spot XRP ETF, with calls for BlackRock to step forward. It is important to note that this article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions.
