Ripple CEO Brad Garlinghouse shared his excitement over the recent XRP ETF filings, expressing confidence that these products could attract significant investment into the XRP ecosystem. The news comes after both Bitwise and Canary Capital filed for XRP ETFs, sparking interest in the crypto community. With institutions willing to file XRP ETFs it will be a great deal for all XRP fans globally who were losing faith in the system.
After a long speculation trial, XRP ETFs filling may bring XRP once again into the crypto game.
Let’s understand more.
Why Timing Matters?
In a recent interview on the Thinking Crypto podcast, Garlinghouse admitted he was surprised by the timing of the filings, given the ongoing legal battle between Ripple and the SEC. Despite this, he wasn’t shocked that XRP ETFs are becoming a reality. He had long predicted that an XRP ETF would follow in the footsteps of Bitcoin ETFs, which were approved earlier this year by the SEC.
Grayscale’s recent move to convert its Digital Large Cap Fund into a spot-based ETF, which includes XRP, further supports Garlinghouse’s belief that these ETFs will attract more capital. He noted that Bitcoin ETFs have already drawn $21 billion since their launch, and expects similar success for XRP.
First BTC, then ETH…it was only a matter of time.
This move underscores the growing trust & integration of digital assets like XRP into traditional finance, marking the continued adoption and maturation of the crypto market. I sense this is just the beginning. https://t.co/s1pHpIEqth
— Brad Garlinghouse (@bgarlinghouse) October 2, 2024 Looking Ahead: Big Capital Inflows for XRP
Garlinghouse is confident that the introduction of XRP ETFs will inject fresh capital into both the XRP ecosystem and the broader crypto market. He believes this is just the beginning for XRP, as more institutional investors look to diversify into basket-style crypto investment products.
As more XRP ETFs gain traction, the market could see a significant influx of funds, further validating XRP’s role in the future of crypto investing.
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