Haider Jamal

Jun 05, 2024

Brad Garlinghouse Discusses XRP ETF Despite Mixed Reactions

Ripple CEO Brad Garlinghouse, speaking in a live broadcast, recently expressed confidence that XRP ETFs will become a reality. He anticipates the emergence of spot XRP ETFs by 2025. Still, not everyone is convinced and some claim that Brad is only announcing this to garner sympathy for the project after its recent shortcomings.

Ripple has also faced several legal challenges so far, with the United States Securities and Exchange Commission (SEC) previously claiming that the sale of XRP constitutes an unregistered securities offering.


A Need For Modernization

Ripple (XRP), in collaboration with prominent entities like Coinbase and Grayscale, has spearheaded efforts within the crypto industry to urge the SEC to modernize its regulatory framework for cryptocurrencies.

Despite these efforts, Ripple faces potential repercussions, including a hefty $2 billion fine by the SEC, stemming via a legal dispute where a judge concluded that the company unlawfully distributed XRP to institutional investors.

Crypto ETFs offer investors a convenient and regulated way to gain exposure to the cryptocurrency market without directly owning digital assets. They can enhance market liquidity, attract institutional investors, and potentially reduce volatility by diversifying risk across multiple cryptocurrencies. Additionally, these ETFs can pave the way for broader adoption of cryptocurrencies by traditional investors and institutions.


Ripple And Its Competitors

Ripple is a digital currency and blockchain platform that aims to facilitate fast and cost-effective cross-border transactions. Unlike many other cryptocurrencies, Ripple is not based on traditional blockchain technology but rather on a consensus ledger, called the XRP Ledger, which uses a network of validating servers to confirm transactions. This design allows for extremely fast transaction speeds, with settlements occurring in seconds, and minimal transaction fees, making it an attractive option for international money transfers and payments.

One of the major advantages of Ripple is its partnerships with numerous financial institutions and banks worldwide. However, its centralized nature has been a point of contention within the cryptocurrency community. Unlike decentralized cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), where transactions are validated by a network of independent nodes, the XRP Ledger relies on a select group of trusted validators, which has raised concerns about centralization and control.

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