Key takeout
Ripple CEO expects multiple XRP ETFs to be released in the second half of 2024. The current US administration is improving its relationship with Ripple, bringing potential advances in crypto-related policies.
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Ripple CEO Brad Garlinghouse reportedly concluded a long-standing legal dispute with Ripple, so in an interview Wednesday with Bloomberg Crypto, Ripple CEO Brad Garlinghouse said multiple XRPETFs will debut in the US market later this year.
“I have great confidence in the ETF,” Gerlinghouse was asked about his confidence in the XRP outlook, specifically whether XRP is considered part of the government, and the possibility that the XRP ETF will be approved.
A variety of XRP ETF applications covering cover spots, leverage, and reverse strategies are currently being reviewed by the SEC. Of the publishers, Franklin Templeton is one of the largest asset managers. Franklin is also the latest to race.
“I think these will be live later this year,” Garlinghouse said.
CEO Ripple pointed out that XRP-based ETPs outside the US are already seeing inflows, while other crypto ETFs are experiencing leaks.
“I think it’s because you had this false negative pressure from the SEC.
Announcing a positive resolution in the SEC vs. Ripple case sparked a surprising market response on Wednesday.
According to data from Coingecko, in the multi-tiered forecast market, the probability of an XRP ETF being approved in 2025 skyrocketed to 86%, with XRP increasing by 14% and 14%.
Garlinghouse discussed the US government’s planned cryptocurrency reserves, explaining that seized digital assets, including XRP, will be incorporated along with another Bitcoin Strategic Reserve.
“My understanding is that stockpiles are represented by other seized ciphers other than Bitcoin.
“As long as various law enforcement agencies, including XRP, seize the code, they will be in stockpiling in addition to the Bitcoin Strategic Reserve,” he added.
Under the executive order signed by President Trump on March 6, all executive bodies must provide full accounting of digital asset holdings to the Secretary of the Treasury and the President’s working group on the digital asset market.
The order also includes an audit of government seized crypto-holding oversight, which has not been fully audited previously.
The order explicitly states that assets in US digital asset stockpiles can be sold under certain conditions, such as secretaries to legal authorities at the Treasury Department.
Trump previously said Ethereum, XRP, Solana and Cardano will be included in the National Cryptocurrency Stockpile.
However, White House AI and Crypto Czar David Sacks later revealed that these crypto assets were mentioned due to their dominant market capitalization.
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