Ripple CEO Sees XRP ETF Approval, $1.25B Acquisition Amid Regulatory Shifts

Ripple CEO Brad Garlinghouse recently appeared on Fox Business to discuss the current state of crypto regulations, the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), and the potential for an XRP exchange-traded fund (ETF). Garlinghouse emphasized Ripple's long-term vision for the industry, focusing on sustainable growth and innovation rather than short-term gains. He highlighted the need for clear and consistent regulatory guidelines to foster the development of the crypto industry, expressing optimism about the potential for an XRP ETF, which could bring greater liquidity and accessibility to the market.

Garlinghouse provided updates on the progress of the SEC lawsuit, noting that Ripple is actively engaged in the legal process and remains confident in its position. He reiterated Ripple's stance that XRP is not a security and should not be subject to the same regulatory framework as traditional securities. Garlinghouse's comments reflect Ripple's ongoing efforts to challenge the SEC's classification of XRP and to advocate for a more favorable regulatory environment for the cryptocurrency.

Garlinghouse also discussed Ripple’s recent acquisition of Hidden Road, a prime brokerage, for $1.25 billion. He attributed this decision to the new crypto clarity and pro-crypto governmental policies, stating that such a purchase would not have made sense under the previous administration's anti-crypto policies. He marked the end of the XRP SEC lawsuit as a sign of crypto’s new age, indicating a shift towards true institutional flows integrating with decentralized finance.

Garlinghouse criticized the former head of the SEC, Gary Gensler, for his negative impact on crypto, believing that the XRP SEC case ended because of the new administration of the SEC. He mentioned that the anti-crypto attitude of the SEC can further be seen in the request for more than a billion in fines, which was toned down by the Judge, reducing it to $125 million.

In addition to these developments, Garlinghouse also mentioned other expected events that could push XRP higher in value. One such expected progress for the token is the approval of XRP ETFs. The SEC now holds dozens of requests that it needs to go through, coming from the biggest players in the scene. This approval process has likely already begun, as the first US market XRP ETF was launched last week.

Garlinghouse's interview on Fox Business comes at a critical time for the crypto industry, as regulators around the world grapple with how to best oversee digital assets. His insights into the regulatory landscape and the potential for an XRP ETF offer a glimpse into the future of the industry and the role that Ripple and XRP may play in shaping it. As the legal battle with the SEC continues, Garlinghouse's comments provide a sense of optimism and determination, suggesting that Ripple is well-positioned to navigate the challenges ahead and emerge as a leader in the crypto space.