Brad Garlinghouse, CEO of Ripple, recently discussed the possibility of a spot XRP ETF being launched in the market. He made these comments during an interview at the Paris Blockchain Week, a major blockchain event in Europe held at the Carrousel du Louvre this year.
Since the introduction of Bitcoin-based ETFs, there has been speculation about the potential for a spot XRP ETF. Interestingly, some U.S. asset managers have also expressed interest in launching spot Ethereum ETFs. However, there may be obstacles to overcome before these ETFs become a reality.
Despite the belief of some Bitcoin enthusiasts that the SEC would only approve Bitcoin ETFs, Garlinghouse stated at the Paris Blockchain Week that he believes the U.S. market will see the launch of ETFs tracking other cryptocurrencies besides Bitcoin.
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 market, stating that he believes there will be other ETFs. However, he also acknowledged that it may take some time for these ETFs to be approved and launched.
Garlinghouse believes that the SEC’s aggressive stance may cause delays in the launch of ETFs. The SEC has been delaying its decision on multiple spot Ethereum ETF filings and is reportedly considering classifying ETH as a security, which could impact the approval of ETFs.
Garlinghouse noted that both Bitcoin and XRP have legal clarity in the United States, which increases the chances of a spot XRP ETF being approved. However, some commentators argue that the SEC may not approve a spot XRP ETF while the legal case with Ripple is ongoing. Additionally, no asset manager has yet filed for a spot XRP ETF, despite calls for BlackRock to do so.
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