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Ripple CEO Brad Garlinghouse spoke after the SEC withdrew its appeal! Will XRP Spot ETF be approved? Will the US add XRP to its reserves? Here are the answers.
Ripple CEO Brad Garlinghouse expressed confidence that XRP will be included in the White House's digital asset inventory and that he expects an XRP exchange-traded fund to be launched within this year.
Garlinghouse recently addressed why XRP was not explicitly mentioned in a recent executive order regarding the U.S. government's digital asset stock in an interview. He pointed to a post published by President Trump on Truth Social that proposed the creation of a broader crypto stock encompassing a Bitcoin strategic reserve and other digital assets. Although XRP was not mentioned by name in the executive order, Garlinghouse believes this will be part of a larger initiative.
"As far as I understand, there will be a crypto stock representing a strategic reserve of Bitcoin and other cryptos. I expect this to include XRP," he said.
Garlinghouse also pointed out the change in regulatory attitudes under the current administration, comparing it to the Biden administration, which he claimed Ripple has been unable to secure meetings with White House officials. He noted that the current administration is more open to discussions regarding cryptocurrency regulation and industry development.
In addition to the cryptocurrency stock speculation, Garlinghouse expressed strong confidence that an XRP ETF will be approved in the U.S. this year. He mentioned that the number of pending ETF applications at the Securities and Exchange Commission, including those from major financial firms like Bitwise and Franklin Templeton, has increased.
Additionally, while there are outflows in some cryptocurrency ETFs, it was noted that international markets saw increased inflows of exchange-traded products related to XRP. This was attributed to a decrease in the negative pressure stemming from the SEC's legal actions against Ripple, and it was stated that previous regulatory hurdles artificially suppressed market interest in XRP.
Garlinghouse, who answered questions about the potential inclusion of XRP in the US crypto stock, suggested that seized cryptocurrencies could play a role.
"As I understand it, the stock will be represented by cryptocurrencies seized other than Bitcoin. Various law enforcement agencies have confiscated cryptocurrencies, including XRP, and these will enter the stock along with the Bitcoin strategic reserve," he said.