Ripple CEO Brad Garlinghouse expressed confidence in XRP's future following recent XRP ETF filings by Bitwise and Canary Capital. This move could attract significant investments into the XRP ecosystem.
Why Timing Matters?
In a recent interview on the Thinking Crypto podcast, Garlinghouse shared his surprise at the timing of the XRP ETF filings amidst the ongoing legal battle between Ripple and the SEC. Nevertheless, he was not shocked by the emergence of XRP ETFs, having long predicted they would follow Bitcoin ETFs, which got SEC approval this year.
Grayscale Plans and Success of Bitcoin ETFs
Grayscale's recent move to convert its Digital Large Cap Fund into an ETF, which includes XRP, bolsters Garlinghouse’s belief that these ETFs will attract more capital. He noted that Bitcoin ETFs have already drawn $21 billion since their launch and expects similar success for XRP.
Looking Ahead: Big Capital Inflows for XRP
Garlinghouse is confident that the introduction of XRP ETFs will inject fresh capital into the XRP ecosystem and the broader crypto market. He sees it as just the beginning for XRP, with more institutional investors looking to diversify through multi-crypto investment products.
With the growing traction of XRP ETFs, the market could see significant capital inflows, affirming XRP's role in the future of crypto investing.