Key dealers
- Ripple CEO expects several XRP ETFs to be launched during the second half of 2024 with 10 applications pending approval.
- Current US administration has improved relations with Ripple, which has led to potential progress in crypto -related policy.
Several XRP ETFs will make their American market debut during the second half of this year, says Ripple CEO Brad Garlinghouse on a Wednesday interview with Bloomberg Crypto after Sec according to information the wrapped Its prolonged legal dispute with Ripple.
“I have tremendous confidence in ETF,” said Garlinghouse, when asked about his confidence in XRP’s prospects, especially if XRP is considered part of a government and the likelihood of an XRP ETF being approved.
Various XRP ETF applications, which cover spot, exploited and reverse strategies, are currently being reviewed by Sec. Among issuers, Franklin Templeton is one of the largest asset managers. Franklin is also the latest to join the race.
“I think they will be live in the other half this year,” Garlinghouse said.
Ripple CEO noted that XRP-based ETP outside the United States is already seeing inflows while other crypto ETFs are experiencing outflows.
“I think it is because you had this false negative pressure from Sec, this kind of exogenous hand that holds down things that are now released,” he said.
Positive Resolution’s announcement in Sec against the Ripple case triggered a remarkable market reaction on Wednesday.
In the prediction market Poly marketThe odds of an XRP ETF approved in 2025 grew to 86%, while XRP increased by 14%and reached an altitude of $ 2.57 in the immediate aftermath, according to the Coyecko data.
Garlinghouse, who discussed the US government’s planned crypto layer, explained that seized digital assets, including XRP, would be incorporated together with a separate Bitcoin strategic reserve.
“My understanding is that the stock will be represented by seized other crypts other than Bitcoin who will then be in that layer,” said Garlinghouse.
“So to the extent that various law enforcement agencies have seized crypts, which would include XRP, they would go into the warehouse in addition to the Bitcoin strategic reserve,” he added.
During executive Signed by President Trump on March 6, all executive authorities must provide a complete account of their digital asset holdings to the Ministry of Finance and the president’s working group in digital asset markets.
The order also involves reviewing the government’s seized crypto holdings, which have not been fully reviewed before.
The order explicitly states that assets in the US Digital Asset Stockpile can be sold under certain conditions, for example through the secretary of the Treasury’s legal authority.
Trump previously stated that Ethereum, XRP, Solana and Cardano would be included in the National Crypto Stockpile.
David Sacks, White House AI and Crypto Czar later Clarified that these crypto assets were mentioned because of their dominant market values.
