- Ripple CEO Brad Garlinghouse argues that an XRP ETF is “inevitable” despite ongoing legal challenges.
- Garlinghouse cites $17 billion of inflows into Bitcoin ETFs as evidence of strong demand.
- Bitwise and Canary Capital have filed for XRP ETFs, highlighting growing interest.
Ripple Labs’ CEO expressed strong confidence that a spot XRP exchange-traded fund (ETF) is inevitable, even as the company continues its legal battle with the U.S. Securities and Exchange Commission (SEC). Brad Garlinghouse made the remarks in a recent interview with Bloomberg, emphasizing momentum across the crypto ETF landscape following major approvals earlier this year. He pointed to the roughly $17 billion that flowed into Bitcoin ETFs since their January approval as clear proof of robust demand from both institutional and retail investors for regulated, exchange-traded exposure to digital assets. With the subsequent approvals for spot Ethereum ETFs in July, Garlinghouse said he expects XRP to follow suit. He described rising interest in ETFs within the crypto community as a key development that both strengthens Bitcoin’s market presence and encourages broader adoption among institutional investors.
Bitwise and Canary Capital File for XRP ETFs
Earlier this month, Bitwise Asset Management became the first firm to file for a spot XRP ETF with the SEC, marking a significant milestone for the cryptocurrency ranked seventh by market capitalization. Canary Capital Group soon followed with its own filing, underscoring increased institutional interest in XRP-based investment products. Notably, Canary Capital also filed for a Litecoin ETF, signaling broader appetite for regulated crypto investment vehicles. The filings come amid Ripple’s long-running legal dispute with the SEC, which dates back to 2020 when the SEC alleged Ripple sold XRP as an unregistered security. Garlinghouse remains optimistic despite the litigation: a landmark ruling last year found that XRP may be considered a security only when sold to institutional investors, though the SEC has appealed that decision. Garlinghouse believes shifting regulatory dynamics and the growing popularity of crypto ETFs will ultimately clear a path for XRP to be included in such products, further solidifying its role in the rapidly expanding digital asset market.