Will the SEC approve the XRP ETF? Following the Ethereum ETF approval, more cryptocurrencies seem to be anticipating ETF approvals.
What’s the crypto world thinking about? The approval for Spor ETFs is a big win for the crypto realm, as it has allowed the market to open up new opportunities before the traders.
The top analysts suggest that crypto is about to have the biggest boom which has the potential to outshine all the performances so far and outgrow the evolvements that have happened so far.
The initial evolution of the crypto industry took place at a slow pace. However, after a point, it sure is rushing towards the bright future.
Let us look at all that in this news piece.
Ripple ETF By 2025?
Brad Garlinghouse, the Chief Executive Officer of Ripple Labs in recent news has anticipated the XRP ETF launch by 2025. The current approval of the Ethereum ETF has the potential to lead to the proposal and approval of Ripple ETFs.
Garlinghouse was talking in an interview with Fox Business where he shared his views on the upcoming possibility of spot XRP ETFs.
He seemed to be quite confident about the inevitability of the XRP ETFs in the near future. Ripple CEO also added that the XRP ETF investing opportunities may open up before the investors in the year 2025.
What does Ripple CEO Brad Garlinghouse think about XRP ETF?
What does the CEO of Ripple think about the visibility of the Ripple Spot ETF? What are his views? Let us read more about that.
Garlinghouse was talking to Liz Claman, the reporter for Fox Business. He mentioned the future of the Spot XRP ETFs and added that Ripple, Solana, and Cardano could follow the path of Bitcoin and Ethereum to Spot ETF approval.
He was optimistic that these 3 cryptos could get approval for their own Spot crypto ETFs.
He said that people do not want to be exposed to just one commodity. Garlingbhosue viewed that it only makes sense when more commodities get added to the market so that the investors have more potential options for trading. He recalled that XRP used to be the second-largest valuable digital asset out there.
The quick-paced evolution of cryptocurrency has succeeded in creating a much-needed and healthy competition for the digital asset of Ripple, he viewed.
Garlinghouse viewed that the SEC was losing their battle against cryptocurrency and seemed to be becoming more open towards the crypto realm.
The financial enforcement body which showed initial reluctance towards the widespread adoption of cryptocurrency seems to be slowly changing its attitude.
The main concern of the Securities and Exchange Commission (SEC) and the Fed seems to be the safety challenges that crypto may pose. However, the SEC is not backing up. They have tightened their grip over the money laundering cases, and they never miss out on any flaw that has happened in this.
Ripple XRP ETF Possibilities
What are some of the potential factors that could drive up the possibility of XRP ETF? Let us look at some possible catalysts for XRP. These are the analysis results of the reputed crypto strategist Crypto Nick.
The tokenization with the RWA narrative of the crypto is definitely one of the catalysts of $XRP. We have to also consider the fact that the Ripple IPO is still looming out there. Ripple stablecoin is another factor that is attracting investors from around the globe.
Ripple is also releasing multiple partnership announcements. Partnering with crypto and tech giants is sure to boost the profile of Ripple. The Crypto provides full clarity on institutional sales. The seven-year-long accumulation and breakout is yet another point.
Major CRPL amendments are taking place federally and globally enhancing the security of the crypto along with safety and privacy. The XRPL adoption is on a hike. Also, note that the crypto has been relisted on all the crypto exchanges again. This would result in more acceptance of the crypto.
The Bottom Line
The Ethereum ETF has resulted in large-scale value gain for crypto. However, Ethereum was not the crypto to get the spot ETF proposal approval from the US Securities and Exchange Commission.
Before Ethereum Biocin ETFS were approved. Since the approval of Bitcoin ETFs, those who proposed the Ether ETFs have been waiting. There were many speculations that Ether may not get the approval. Many even predicted that the SEC would reject the ETH ETF.
However, after the month-long wait, ETH ETF was approved by the SEC which really came out at an unexpected time.
The crypto world was not expecting the approval of this proposal in May 2024, however, the SEC rolled out it in their announcement. The approval came at a time when many of the applications were about to meet their deadline.
