Kelvin Testimony Amachree
In the speculative realm of the cryptocurrency market, discussions swirl around the potential approval of an Exchange-Traded Fund (ETF) for digital assets following Ethereum’s recent success. With applications already in for a Solana (SOL) ETF, attention is turning to Ripple’s XRP as a strong candidate for ETF status.
Ripple executives are upbeat about the possibility of an XRP ETF, with President Monica Long citing the asset’s growing momentum and community support as strong factors in favor of such a move. CEO Brad Garlinghouse has also voiced his excitement, noting that the green light for an Ethereum ETF has set a precedent for future ETFs, including one for XRP.
Amid the escalating buzz around ETFs, investors eagerly anticipate the debut of the first XRP ETF. While no specific launch date has been confirmed, statements from Ripple’s leadership suggest that it could be on the horizon. Should it materialize, an XRP ETF would offer investors a fresh channel to enter the crypto market, potentially fostering increased adoption and expansion.
Estimated Launch Time for XRP ETFs
Ripple CEO Brad Garlinghouse remains steadfast in his belief that an XRP ETF is on the brink, deeming it “inevitable.” He forecasts that this milestone will be reached by 2025, despite a recent GSR report indicating otherwise. The report assigned a low ETF Possibility Score to XRP due to limited demand, hinting that an XRP ETF might not be imminent.
Nonetheless, Garlinghouse’s projection could materialize if the SEC greenlights an XRP ETF following the one for Solana, which is anticipated to be the next in line. The introduction of a Solana ETF could lay the groundwork for other cryptocurrencies like XRP to pursue similar paths. If Solana takes the lead with its ETF, a 2025 timeline for XRP might align following a parallel application procedure.
Despite uncertainties, Garlinghouse maintains a positive outlook on the future of XRP. His confidence in an XRP ETF could be underpinned by the escalating interest in cryptocurrency ETFs, potentially spurring heightened demand and regulatory approval. Only time will reveal the accuracy of Garlinghouse’s forecast, yet it’s evident that the arena for cryptocurrency ETFs is swiftly evolving.