Ripple Labs CEO Brad Garlinghouse Believes an XRP ETF is 'Just Inevitable,” Despite Ongoing Legal Challenges

Garlinghouse’s comments come on the heels of significant developments in the cryptocurrency ETF space, particularly following the approval of Bitcoin

Ripple Labs CEO Brad Garlinghouse is optimistic about the eventual approval of an XRP exchange-traded fund (ETF), despite the ongoing legal challenges between the company and the US Securities and Exchange Commission (SEC).

In a recent interview with Bloomberg, Garlinghouse commented on the significant developments in the cryptocurrency ETF space, particularly following the approval of Bitcoin as the first crypto-based ETF in the United States earlier this year.

Highlighting the impressive influx of $17 billion into Bitcoin ETFs since their approval in January, Garlinghouse noted the robust demand from both institutional and retail investors to gain exposure to digital assets.

With Ethereum also anticipated to be approved for ETF status next, Garlinghouse expressed his hopes for XRP to follow suit.

"I think you'll see, over time, the next logical step is other large cryptocurrencies being included in ETFs, and I think XRP will be right there. I think the interest in ETFs has surged within the crypto community, and it's been a crucial vehicle for Bitcoin to expand in the market and be adopted by institutional investors,” he added.

Earlier this month, Bitwise Asset Management became the first firm to file with the SEC for an XRP ETF, in a pivotal move for the cryptocurrency, which ranks as the seventh largest by market capitalization.

Canary Capital Group also signaled their interest in the token, filing for a Litecoin ETF and an XRP-based ETF.

The filings come amidst Ripple's ongoing legal battle with the SEC, which began in 2020 when the agency alleged that the company unlawfully sold XRP as an unregistered security.

However, a landmark ruling last year determined that XRP is considered a security only when sold to institutional investors, a decision that has been appealed by the SEC.

Despite the challenges, Garlinghouse remains optimistic about the future of XRP and its potential inclusion in ETFs, which he believes will further solidify the cryptocurrency's presence in the burgeoning digital asset market.

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