{"id":21820,"date":"2024-06-01T03:00:46","date_gmt":"2024-06-01T03:00:46","guid":{"rendered":"https:\/\/investmentbankingrules.com\/?p=21820"},"modified":"2024-06-01T03:00:46","modified_gmt":"2024-06-01T03:00:46","slug":"ripple-ceo-brad-garlinghouse-reveals-xrp-etf-is-inevitable-in-us","status":"publish","type":"post","link":"https:\/\/investmentbankingrules.com\/?p=21820","title":{"rendered":"Ripple CEO Brad Garlinghouse Reveals XRP ETF is \u2018Inevitable\u2019 in US"},"content":{"rendered":"

Ripple CEO Brad Garlinghouse ignited excitement with his bullish forecasts on May 30, particularly regarding the prospect of an XRP exchange-traded fund (ETF). Garlinghouse\u2019s statements exuded confidence, suggesting that XRP and other altcoins could follow Ether\u2019s footsteps in securing ETF approvals in the US.
\nAt the Consensus 2024 conference, Ripple CEO Brad Garlinghouse declared that an XRP exchange-traded fund (ETF) in the US is \u201cinevitable,\u201d with Solana and Cardano ETFs likely to follow.
\nSpot Ether ETF Approval Sets Stage for XRP ETF<\/p>\n

Ripple\u2019s Brad Garlinghouse foresees XRP, Solana, & Cardano ETFs pic.twitter.com\/xgI4plviUx
\n\u2014 Altcoin Daily (@AltcoinDailyio) May 31, 2024<\/p>\n

Despite his optimistic outlook, Garlinghouse acknowledged the regulatory challenges ahead. He criticized the US Securities Exchange Commission (SEC) for the lack of clarity, particularly regarding Ether\u2019s status as a security, with a recent court document showing that the SEC and its Chair Gary Gensler believed Ether was a security.
\nAccording to Garlinghouse, this ambiguity is a major obstacle to cryptocurrency innovation in the US. Garlinghouse\u2019s comments about a potential XRP ETF follow the SEC\u2019s recent approval of the Spot Ethereum ETF, suggesting a trend toward broader acceptance of digital assets within the regulatory framework.
\nBOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum ETFs. What a turn of events. It\u2019s really happening.
\nh\/t @PhoenixTrades_ pic.twitter.com\/KQ39mDyCbT
\n\u2014 James Seyffart (@JSeyff) May 23, 2024<\/p>\n

This is not the first time Garlinghouse has confidently predicted the rise of altcoin ETFs. In February 2024, the Ripple boss revealed the prospects of XRP ETF. He drew parallels with the early days of the stock market, where diversification was key to managing risk.
\nHe further expressed Ripple\u2019s support for an XRP ETF.
\n\u201cWe would certainly welcome it,\u201d he said. \u201cAnd I think it\u2019s inevitable that there\u2019ll be, you know, multiple ETFs around different tokens.\u201d
\nMeanwhile, Ripple\u2019s CTO, David Schwartz, discussed the company\u2019s latest moves in an exclusive interview with Cryptonews\u2019 Rachel Wolfson at the Consensus 2024 event.<\/p>\n

Schwartz detailed Ripple\u2019s efforts to promote institutional DeFi and ensure regulatory-compliant operations on decentralized blockchains. He emphasized that these initiatives would integrate institutions with strict compliance needs into the DeFi ecosystem without compromising the core principles of decentralization.
\n @Ripple has partnered with the @Axl_Foundation to enhance interoperability on the XRP Ledger blockchain, focusing on advancing the tokenization of real-world assets.#CryptoNewshttps:\/\/t.co\/pDvg6FzkSA
\n\u2014 Cryptonews.com (@cryptonews) February 27, 2024<\/p>\n

Additionally, Ripple is advancing in tokenizing real-world assets, enabling them to be used as collateral in DeFi applications. The initiative seeks to merge the benefits of regulatory-compliant products with the flexibility of decentralized finance.
\nXRP ETF Approval Projections Backed by Standard Chartered Insights<\/p>\n

Multinational bank Standard Chartered recently weighed in on the potential for Solana and Ripple\u2019s XRP to secure ETF approval.
\nThe bank\u2019s analysts, including Geoffrey Kendric, believe such approval would likely not occur until 2025.
\n Standard Chartered analyst Geoffrey Kendrick predicts cryptos ETFs like $SOL and $XRP could be approved by 2025.
\nApproval of the $ETH ETF suggests $ETH and other similar cryptos will not be treated as securities. pic.twitter.com\/ye7lsBK2un
\n\u2014 Ajay Kashyap (@EverythingAjay) May 25, 2024<\/p>\n

In detail, Standard Chartered\u2019s perspective is grounded in the broader regulatory environment and market conditions. Analyst Geoffrey Kendric emphasized that while there is growing interest and anticipation for XRP and SOL to achieve ETF status, the current regulatory space makes a 2024 approval unlikely.
\nKendric noted that the market dynamics and regulatory hurdles mean that the focus for ETF approval will probably shift to 2025.
\nThe post Ripple CEO Brad Garlinghouse Reveals XRP ETF is \u2018Inevitable\u2019 in US appeared first on Cryptonews.<\/p>\n","protected":false},"excerpt":{"rendered":"

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