Ripple: XRP ETF is “inevitable”

Brad Garlinghouse, CEO of Ripple Labs, stated that XRP inclusion in a spot exchange-traded fund (ETF) in the United States was “just inevitable.”
“It is demonstrating there’s demand from institutions, and retail to access this asset class,” he said, referring to the more than $21 billion that has poured into spot Bitcoin (BTC $67,191) ETFs since January.

“Interest in XRP has increased,” Garlinghouse stated. “You’ve seen two or three ETF filings around XRP, and I think it’s just a given that you’ll see an XRP ETF in addition to Bitcoin and Ether.”
SEC has received applications for spot XRP ETFs from asset managers Bitwise and Canary Capital.

Garlinghouse highlighted that an XRP fund would “do quite well” because the cryptocurrency has a “very interested and active community” in the US and overseas.
He also stated that “more and more institutionalized participation in the crypto industry” is a trend that includes crypto ETFs.

He stated, “I think we’ll continue to see that, it puts upward pressure on the prices of different crypto assets including XRP.”

Brad Garlinghouse, the CEO of Ripple Labs, acknowledged that his company should have contacted US regulators sooner. As a result, the crypto sector and Ripple Labs are catching up after facing legal enforcement actions.

Additionally, he claimed that Ripple has been “very active” in its political contributions. The business has donated around $50 million to the pro-crypto FairShake PAC, which supported Democratic and Republican candidates. Chris Larsen, a co-founder of Ripple, announced on October 21 that he had contributed $10 million to a PAC that backed Democratic presidential candidate Kamala Harris.