Ripple CEO Brad Garlinghouse says an XRP ETF Is ‘Inevitable’
Oct 23, 2024
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Brad Garlinghouse, CEO of Ripple, discusses the cryptocurrency landscape and the urgent need for clear regulations to foster innovation. He believes the launch of an XRP spot ETF is inevitable, especially as interest grows among asset managers. The conversation also touches on Ripple's ongoing legal battle with the SEC and the implications it has for the company and the crypto market. Garlinghouse emphasizes the importance of regulatory clarity and highlights Ripple's initiatives in the evolving world of stablecoins.
The Ripple CEO emphasizes the need for clear regulations in the U.S. to catch up with global standards for crypto.
Growing institutional interest in XRP ETFs signals an anticipated surge in market participation and potential price increases.
Deep dives
Future of Crypto Regulation
The current political landscape is influencing the regulation of the crypto industry in the United States. The Biden administration's approach is under scrutiny, with indications that the regulatory framework will become more constructive regardless of which political party leads. Ripple's CEO underscores the necessity for clear regulations, pointing out that the U.S. is lagging behind countries like the U.K. and Japan, which have established more defined rules. There is a growing sentiment for a reset that could enhance the crypto ecosystem, benefiting innovation and consumer protection.
Market Dynamics and XRP ETFs
Interest in XRP is rising, notably with recent movements towards Exchange-Traded Funds (ETFs) tied to the asset. The approval of a Bitcoin ETF has catalyzed market dynamics, demonstrating strong demand from both institutional and retail investors for crypto access. The XRP community remains active and engaged, which bodes well for potential ETF filings related to XRP as institutional participation continues to grow. Ripple's CEO believes that as new products enter the market, they will create upward pressure on prices and pave the way for broader adoption within the crypto space.
Ripple CEO Brad Garlinghouse says an XRP ETF is "nevitable" from the DC Fintech Week conference in Washington. He speaks with hosts Sonali Basak and Tim Stenovec.