XRP ETF Available Soon? This is What the Ripple CEO Said!
2024-10-24Bittime - After the successful launch of a Bitcoin ETF earlier this year, Ripple Labs CEO Brad Garlinghouse sees a huge opportunity in the launch of an XRP ETF.
So, will the XRP ETF be launched soon? How does Brad Garlinghouse respond? Read this article to find out more!
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Bitcoin ETF Paves the Way for XRP ETF
Brad Garlinghouse expressed confidence that the launch ETF XRP in the US it is just a matter of time. Garlinghouse's optimism is based on the success of the ETF launch Bitcoin in January 2024.
Since its launch, the Bitcoin ETF has attracted large investments with a total value of $17 billion, making it one of the fastest growing ETFs in history.
According to Garlinghouse, this success is clear evidence that there is huge demand, from both institutional and retail investors, to gain access to the digital asset class. This paved the way for other ETFs, including the XRP ETF.
Read Also: Ripple to Launch Stablecoin RLUSD
Submission XRP ETF by Bitwise and Canary
One of the initial steps for the launch of ETF XRP is the application made Bitwise. Earlier this month, Bitwise became the first company to submit an application to SEC to launch a spot XRP ETF.
Not long after that, Canary Capital Group, a new investment firm focused on digital assets, also submitted an application to launch ETF XRP.
These two filings show there is strong interest from investment companies in launching XRP ETFs, allowing more people to invest in XRP in an easier and safer way.
Demand for Crypto ETF Increases
Garlinghouse also highlighted that demand fork ETF crypto continue to increase. One reason is the growing participation of financial institutions in the crypto world.
Therefore, Garlinghouse believes that there will be upward pressure on the prices of various crypto assets, including XRP price. He judged that crypto assets are increasingly recognized as legitimate and potentially profitable investment instruments.
Read Also: Ripple Fines $125 Million, Lower than SEC Demand
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