Ripple CEO Brad Garlinghouse believes that the U.S. Securities and Exchange Commission (SEC) will approve spot XRP ETFs next year, emphasizing their inevitability. In a recent interview with Fox Business, he discussed U.S. cryptocurrency regulations and the SEC’s shift towards pragmatism after losing several court battles.
XRP ETFs Likely Approved Next Year, Ripple’s CEO Says
Brad Garlinghouse, the CEO of Ripple, addressed the topic of U.S. cryptocurrency regulations and the potential approval of additional crypto exchange-traded funds (ETFs) beyond bitcoin and ether. Speaking with Fox Business, he noted that the SEC’s recent approval of 19b-4 forms for eight spot ethereum ETFs signals a change in their approach.
Garlinghouse explained, “The first thing is they’ve lost a lot in court, and they really got dragged kicking and screaming across the line to get the bitcoin ETF live. They realized that if they were going to drag their feet and fight around the ETH ETF, likely the same outcome was going to happen.”
The Ripple executive expressed his frustration, stating, “It’s frustrating that we have to go through the courts to get these positive outcomes. The United States should be investing in these technologies. We should be embracing these … Unfortunately, this SEC has been fighting it every step of the way.” He emphasized:
“The United States remains the largest economy in the world and it has been backwards in its approach to cryptocurrencies. Countries like the UK are way ahead — Japan, Singapore, Switzerland. We are really behind the rest of the world.” visit at torent galaxy
Ripple recently donated $25 million to the Fairshake Super Political Action Committee (PAC), matching a previous donation. Crypto exchange Coinbase and venture capital firm Andreessen Horowitz (a16z) also contributed $25 million each to Fairshake to support crypto-friendly candidates and shape U.S. crypto regulations.
Garlinghouse asserts that the SEC will inevitably approve XRP ETFs. Speaking at the Consensus 2024 conference, he remarked that it is only a matter of time before the securities regulator approves other crypto ETFs, including those for XRP, Solana, and Cardano.
When asked if the SEC might refuse to approve XRP ETFs due to its ongoing court case against Ripple over the sale of XRP, Garlinghouse said, “I think it’s a hard argument for them to win. Can they make life difficult? They’ve made life difficult for a lot of people, and they’ve lost in court.”
Reiterating his point made at the Consensus conference, Garlinghouse explained, “People don’t want just exposure to one commodity. If you have exposure to gold, you might want exposure to silver … or other commodities … To me, it only makes sense. You don’t want to have just a single-threaded asset exposure.” When asked when he thinks there will be an XRP ETF, Garlinghouse said:
“I think we are going to see it. It’ll probably be 2025.”
