Ripple Bets Big on XRP ETF, U.S Strategic Reserve
Ripple CEO Brad Garlinghouse said he was confident that XRP would be included in the cryptocurrency stockpile and that an XRP exchange-traded fund (ETF) would be approved
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Ripple CEO Brad Garlinghouse said he was confident that XRP would be included in the cryptocurrency stockpile and that an XRP exchange-traded fund (ETF) would be approved.
In a statement made by President Donald Trump on the social media site Truth Social, the Ripple executive said that the world’s largest economy will have a cryptocurrency reserve that contains not only Bitcoin but also other popular altcoins. Trump specifically mentioned Cardano, Solana, XRP, and Ethereum
Garlinghouse said: According to what I understand, there will be a Bitcoin Strategic Reserve and a cryptocurrency stockpile representing other crypto assets, including XRP.
“To the extent that various law enforcement agencies have seized cryptos which would include XRP, those would go into the stockpile in addition to the Bitcoin Strategic Reserve,” he added, adding that the stockpile would be made up of seized digital assets.
The CEO of Ripple underlined that XRP’s future depended on the general change in regulatory views regarding cryptocurrencies, especially under the current administration.
“We couldn’t get a meeting with people at the White House, now we’re accepted,” he said, highlighting the difficulties Ripple and the larger cryptocurrency industry had previously had reaching lawmakers.
He views this change as a chance for the token to be officially added to national cryptocurrency reserves and for its investment products to acquire legitimacy through an exchange-traded fund (ETF) since XRP was omitted from earlier regulatory plans under the Biden administration.
Ripple’s leader was optimistic about regulatory progress regarding the possible approval of an XRP ETF. He said, “I have immense confidence in the ETF”
”I believe, eleven separate filings are pending with the SEC to introduce XRP ETFs. He noted rising investor interest and inflows into investment products backed by XRP and predicted that these ETFs could launch later in the year.’
Garlinghouse claims that XRP is now enjoying the benefits of a more hospitable regulatory environment after being hampered by “false negative pressure from the SEC.”. According to him, the investment environment for XRP will improve as policy changes from anti-crypto to pro-crypto, increasing the likelihood that an ETF will be approved.
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