Brad Garlinghouse, the CEO of Ripple, is confident that the U.S. Securities and Exchange Commission (SEC) will give the green light to spot XRP ETFs in the upcoming year, stating that this decision is inevitable. In a recent interview with Fox Business, Garlinghouse discussed the evolving landscape of cryptocurrency regulations in the U.S., emphasizing the SEC’s shift towards a more practical approach following legal battles.
Garlinghouse pointed out that the SEC’s recent approval of 19b-4 forms for eight spot ethereum ETFs signifies a change in attitude. He noted, “They’ve lost a lot in court battles and were reluctant to approve the bitcoin ETF. They realized that resisting the approval of the ETH ETF would likely lead to the same outcome.”
Expressing frustration with the need to resort to legal battles for positive outcomes, Garlinghouse stressed the importance of the U.S. embracing cryptocurrency technologies. He highlighted the country’s lag behind other nations such as the UK, Japan, Singapore, and Switzerland in cryptocurrency adoption.
Recently, Ripple made a significant donation of $25 million to the Fairshake Super Political Action Committee (PAC) to support crypto-friendly candidates. Other major players in the crypto industry, including Coinbase and Andreessen Horowitz (a16z), also contributed to the cause to influence crypto regulations in the U.S.
Garlinghouse confidently stated that the SEC will eventually approve XRP ETFs. He predicted that the securities regulator would extend its approval to other crypto ETFs, including those for XRP, Solana, and Cardano in the near future.
Despite ongoing legal disputes between Ripple and the SEC over the sale of XRP, Garlinghouse remains optimistic about the approval of XRP ETFs. He acknowledged the challenges posed by the SEC but highlighted the regulator’s track record of losses in court battles.
Garlinghouse emphasized the importance of diversification in investment portfolios, stating that exposure to a single asset is not ideal. He suggested that investors should have access to a variety of commodities, including XRP. When asked about the timeline for an XRP ETF, Garlinghouse hinted at a potential approval by 2025.
What are your thoughts on Brad Garlinghouse’s predictions regarding XRP ETF approval by the SEC? Share your opinions in the comments below.
