On the wave of Bitcoin, by 2025 you could have spot etfs on Ripple...

Surge in Bitcoin Prices

This morning, Bitcoin surged past the $70,000 mark as new capital continues to flow into ETFs. Ripple's CEO, Brad Garlinghouse, believes it is "inevitable" that a spot ETF for XRP will be introduced by the end of 2025.

The Future of Crypto ETFs

Garlinghouse asserts that, following the success of Bitcoin spot ETFs, it is only a matter of time before spot ETFs for other cryptocurrencies, such as XRP, Solana (SOL), and Cardano (ADA), are launched. He shared his insights at the Consensus crypto conference organized by Coindesk in Austin, Texas, stating:

"I think it's just a matter of time, and it’s inevitable that there will be an ETF for XRP, an ETF for Solana, an ETF for Cardano, and that's fantastic."

Timeline for XRP Spot ETF

Garlinghouse suggests that Bitcoin and Ethereum spot ETFs are just the beginning. He believes the financial market, recognizing the potential of these products, will eagerly embrace new spot ETFs based on various crypto assets. The primary obstacle, according to Garlinghouse, remains regulatory clarity for Bitcoin, Ethereum, XRP, and other cryptocurrencies:

"Achieving the right regulatory stance in the United States is absolutely crucial."

Ripple's Regulatory Campaign

Ripple, along with Coinbase and Grayscale, is actively campaigning to persuade the U.S. Securities and Exchange Commission (SEC) to update its regulations for crypto assets. Garlinghouse highlighted the political weight of the SEC's position, especially in the context of the presidential race between Trump and Biden, where crypto issues are gaining prominence:

"It's a tragedy because the SEC's stance has become such a political burden that it’s even influencing the presidential race."

SEC's Approval of Ethereum Spot ETF

Garlinghouse views the SEC's approval of a spot ETF for Ethereum as a sign of new energy and enthusiasm in the crypto investment markets. He emphasized that political interest in crypto assets reflects a broader public interest, regardless of the sincerity of the politicians involved:

"It's an issue that excites a lot of people, and it's exciting and thrilling for those who favor innovation and technology, knowing that cryptocurrencies can be used in ways that protect consumers simultaneously."

Political Division on Cryptocurrencies

Garlinghouse noted that cryptocurrencies have become a divisive issue in the U.S. He criticized the partisan nature of the debate but acknowledged the strategic approach of Republicans:

"I think it's absurd that it has become a partisan issue, but I believe the Republicans are very strategic in their approach. And I think it's becoming an electoral issue, which I believe is positive for the sector. I think it's generating some momentum in the market."

Promising Future for Crypto Markets

With the introduction of new crypto-based spot ETFs and an evolving regulatory framework, the future of the crypto market appears promising. Garlinghouse's optimism underscores the growing acceptance and potential mainstream integration of cryptocurrencies in the financial sector.