Ripple CEO Brad Garlinghouse recently expressed strong confidence in the feasibility of an XRP ETF during an interview with FOX Business, predicting that it will happen in 2025.
Market will naturally drive crypto ETFs
Positive outlook on XRP, SOL, ADA becoming ETFs
Competing coin ETFs still not favored
Following the approval of an Ethereum futures ETF by the US Securities and Exchange Commission (SEC), the market is more optimistic about the possibility of other mainstream competing coins launching spot ETFs. Brad Garlinghouse mentioned XRP, Solana (SOL), and Cardano (ADA) during the interview, comparing them to commodities and stating that they should not be classified as securities.
“No one wants to hold only one commodity. If you hold gold, you might also want exposure to silver and other assets. That’s reasonable.”
Positive outlook on XRP, SOL, ADA becoming ETFs
Brad Garlinghouse indicated last week at the CoinDesk Consensus conference that ETFs for XRP, SOL, ADA, and others are inevitable in the future. Despite facing regulatory obstacles such as SEC lawsuits, Brad Garlinghouse believes that the regulatory environment is undergoing positive changes, especially with countries like the UK, Japan, Singapore, and Switzerland leading the way ahead of the US, which might prompt the US to make changes.
He also discussed the political aspects influencing the cryptocurrency market, including the growing interest in cryptocurrencies by political figures such as the Trump campaign team, marking a significant change:
“I think this (cryptocurrency) has become a political issue. It’s crazy, but I think the Republicans are very strategic in dealing with this issue. It’s becoming an election issue, and it’s beneficial for the overall industry. I think it’s also driving market development.”
Competing coin ETFs still not favored
The possibility of competing coin ETFs being launched is still not favored. Bitcoin and Ethereum only launched spot ETFs after the introduction of futures contracts on the Chicago Mercantile Exchange (CME), and market news in May indicated that CME did not have plans to launch SOL contracts. In addition, Bloomberg ETF analyst James Seyffart has previously stated that the SEC not only filed a lawsuit against XRP for being a security but also indicated in lawsuits against Kraken and Coinbase that SOL is a security. He believes that a SOL ETF may happen, but it could be years away.