Ripple CEO Garlinghouse expects an XRP ETF to be on the market by the end of 2025, and he sees XRP in the state US reserve for digital assets. Garlinghouse also explained that Ripple Labs is possible, but was not primarily possible.
His comments followed the settlement of the legal dispute between Ripple and the US stock exchange supervision SEC, which ended that the authority withdrew its appeal against the judgment issued. Despite this result, Ripple still acts against a fine of $ 125 million in connection with institutional XRP sales.
Ripple CEO Brad Garlinghouse stated that he expects an XRP exchange-traded fund (ETF) to be launched by the end of 2025, and that XRP is likely to become part of the White House’s proposed digital asset reserve. He also mentioned that a Ripple Labs initial public offering (IPO)…
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The Ripple CEO assumes that several XRP ETFs will be approved by the end of 2025 after more than ten applications from Bitwise and Franklin Templeton have been submitted to the Sec. Garlinghouse expressed his belief in the success of ETFs by mentioning the positive market development of stock market-traded XRP products around the world.
The price of XRP rose by $ 2.51 in the last 24 hours, which explains third place behind Bitcoin (BTC) and Ethereum (ETH) as the largest cryptoassets based on the market capitalization. Coingecko statistics showed the optimism of investors in terms of XRP through their market data analysis after Ripple had achieved his legal victory.
The decision of the SEC to drop their case marked a significant shift in its regulatory attitude to enforce cryptocurrencies. The company behind Ripple continues to pursue legal steps against the $ 125 million punishment for XRP sales between 2015 and 2016. Nevertheless, the company’s CEO, Brooke Garlinghouse, believes that the punishment has no basis. The managing director emphasized that investors had no losses due to the XRP sales, which is why the finance imposed was unfounded.
Since December 2020, when the SEC initiated its lawsuit against Ripple, Garlinghouse stated that the company spent more than $ 150 million for legal costs. Through aggressive legal disputes, the SEC under the chairman Gary Gensler, according to Garlinghouse, tries to get control of the crypto industry.
Garlinghouse unveiled that Ripple is still planning a IPO, but the initiation of an IPO ranks among other business goals. According to its explanation, the company successfully expanded while investing in the public market. The company focuses on its efforts to acquire strategic assets to build its blockchain infrastructure network.
According to Garlinghouse, large US banks that have previously avoided cryptocurrencies are now looking for crypto-custody solutions and payment services. The company has determined that these changes result from the increasing use of stable coins and the tokenization of market values.
Ripple actively further develops his StableCoin business activities. Garlinghouse explained that RL USD will be among the five leading stable coins in the current year. The StableCoin sector is very promising for Ripple, according to the company’s managing director, which indicates a market value of $ 230 billion.
With regard to the concerns that Ripple controls 42 % of the XRP offer, Garlinghouse assured that the company maintains transparency via its stocks through regular XRP market reports. He emphasized that the possession of Ripple is not a risk for investors or market stability.
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