Ripple CEO Predicts Certainty of Crypto ETFs: Is XRP on the Horizon?

• Spot Bitcoin ETFs Approval by US SEC Paves Way for More Crypto-Based ETFs
• Ripple CEO Predicts Certainty of Other Crypto ETFs
• Ripple's Stand on XRP ETF
• Ripple Postpones IPO: Potential Impact on XRP
• Ripple's Legal Dispute with the SEC
• Previous Verdict on XRP Sales

Spot Bitcoin ETFs Approval by US SEC Paves Way for More Crypto-Based ETFs

The recent approval of 11 spot Bitcoin$42,260 -0.64% ETFs by the US Securities and Exchange Commission (SEC) sets a precedent for future crypto-based ETFs. Notably, investors of Ripple's XRP$0.620 -1.68% token are poised for a potential XRP ETF.

Ripple CEO Predicts Certainty of Other Crypto ETFs

Brad Garlinghouse, CEO of Ripple, expressed his views on the likelihood of other crypto ETFs during an interview with CNBC at the World Economic Forum. Though he didn't specify a timeline, he affirmed his certainty of their emergence.

Ripple's Stand on XRP ETF

While quizzed over an XRP ETF, Garlinghouse chose not to provide a definitive answer, but reiterated the inevitability of more crypto ETFs.

Ripple Postpones IPO: Potential Impact on XRP

Amidst the World Economic Forum in Davos, Garlinghouse disclosed Ripple's decision to temporarily halt its planned Initial Public Offering (IPO). The hostile regulatory environment in the US was cited as the primary reason for this shift in plans. Consequently, the company is exploring IPO options beyond the US borders.

Ripple's Legal Dispute with the SEC

Interestingly, Ripple is currently embroiled in a legal dispute with the SEC. According to the regulatory body, Ripple's sale of XRP to clients is a violation of securities laws. This ongoing legal battle could potentially impact the value of the XRP token.

Previous Verdict on XRP Sales

Last year, a US district court ruled in favor of Ripple, stating that the sale of XRP to retail clients did not contravene securities laws. Despite this, the lawsuit has been elevated to the high court, with investors keenly awaiting the final verdict.

Edited by Jonathan Stoker