The United States may approve an XRP ETF in the near future. The CEO of Ripple, Brad Garlinghouse, recently stepped out to share his predictions and confidence. Investors would soon be able to get XRP through an exchange-traded fund instead than needing to purchase the coin directly, he claimed.
Garlinghouse made sure to point out the demand that already exists in the United States for crypto-based exchange-traded funds. He mentioned Bitcoin’s ETF success in that respect, as it still continues to attract new and ongoing interest on the part of investors. Bitcoin ETFs do indeed have huge inflows-actually over $21 billion net inflows.
At the same time, XRP still has legal problems. The U.S. SEC is challenging its status as a non-security, which may challenge the green light for an XRP ETF. The case may extend up to July 2025.
Despite the uncertainty, firms like Bitwise and Canary Capital are pushing ahead with XRP ETF applications. Bitwise recently revised its SEC filing to address compliance and investor protection. Canary Capital’s proposed fund would track XRP’s value using the CME CF Ripple dollar reference rate.
In the midst of these developments, Ripple co-founder Chris Larsen made headlines by donating $10 million in XRP to Kamala Harris’s campaign, following an earlier $1 million contribution. The reason behind this move is anyone’s guess, but many believe he considers Harris a friend to the crypto industry.
Of course, XRP’s regulatory future is still anybody’s guess, but Garlinghouse says he remains optimistic and Ripple remains committed to continuing to work with legislators in both major U.S. parties moving crypto-friendly policy forward.
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