Brad Garlinghouse, the CEO of Ripple, recently pointed out the remarkable growth and heightened investor interest in the world of cryptocurrency by comparing the performance of Bitcoin ETFs to that of gold ETFs.
Garlinghouse emphasized the exceptional performance of Bitcoin ETFs in comparison to gold ETFs, noting the significant milestone in the evolution of asset classes. This shift reflects the increasing confidence and interest that investors have in cryptocurrency-based ETFs. According to Garlinghouse, Bitcoin ETFs have shown a much steeper upward trajectory compared to gold ETFs.
In a recent tweet, Brad Garlinghouse expressed his belief that the introduction of an XRP ETF is inevitable, further indicating a positive outlook for both XRP and the entire cryptocurrency industry.
Drawing a parallel between the listing of SPDR Gold Shares ETF on the New York Stock Exchange in 2004 and the debut of BlackRock’s IBIT Bitcoin ETF, Garlinghouse highlighted the rapid asset accumulation of Bitcoin ETFs compared to gold ETFs. He emphasized that while it took SPDR Gold Shares ETF three years to amass $10 billion in assets, BlackRock’s IBIT Bitcoin ETF achieved double that amount in just five months.
Garlinghouse also underscored the importance of diversifying investments, noting that investors are increasingly seeking exposure to multiple assets rather than relying on a single commodity. He suggested that the approval of Ethereum ETFs will follow the successful trend of Bitcoin ETFs, providing further opportunities for asset diversification in the cryptocurrency industry.
In addition to Bitcoin, Brad Garlinghouse focused on XRP as a potential breakout coin, predicting the launch of an XRP ETF in the near future. This optimism was echoed by Ripple’s President, Monica Long, who highlighted XRP’s strong market position and substantial daily trading volumes as factors that could propel XRP ETFs to the forefront.
The anticipation of XRP ETF approvals has fueled speculation about XRP’s price, which has seen a 0.58% surge in the past week to trade at $0.527. This increase reflects the positive market sentiment surrounding the XRP token and the potential for further growth driven by increased accessibility and institutional investment.