Ripple CEO Garlinghouse Sees XRP ETF Launch as ‘Inevitable’

Despite ongoing legal battles with the US Securities and Exchange Commission (SEC), Ripple Labs CEO Brad Garlinghouse remains hopeful about the imminent approval of a spot XRP ETF in the United States.

Garlinghouse’s optimism comes amid a rise in institutional interest in the cryptocurrency market, particularly following the successful introduction of Bitcoin ETFs earlier this year.

Ripple CEO Optimistic About XRP ETF Prospects After Bitcoin ETF Milestone

In a recent interview with Bloomberg Television, Garlinghouse noted the substantial influx of capital into Bitcoin ETFs since their approval in January, which has attracted roughly $17 billion, making it the fastest-growing ETF ever.

Garlinghouse highlighted that this increase signifies a strong demand from both institutional and retail investors for access to digital assets. “It clearly demonstrates that there’s demand from institutions and retail to access this asset class,” he stated.

The momentum for XRP ETFs gained strength earlier this month when Bitwise became the first company to submit a filing with the SEC for a spot XRP ETF, which represents the world’s seventh-largest cryptocurrency by market capitalization.

Subsequently, Canary Capital Group, a newly established investment firm focusing on digital assets, also filed its application for the Canary XRP ETF.

Growing Interest in Crypto ETFs and Rising Institutional Engagement

During the interview, Garlinghouse remarked on the SEC’s previous reluctance to approve Bitcoin exchange-traded funds, mentioning that the US SEC was “dragged, kicking, and screaming” into the Bitcoin ETF market approval earlier this January.

The growing demand for cryptocurrency ETFs is part of a broader trend indicating increased institutional participation in the crypto space, Garlinghouse pointed out.

Ripple’s CEO believes that this institutional interest is poised to exert upward pressure on prices for various cryptocurrencies, including XRP.