Breaking: Ripple CEO Reacts to Launch of First Spot XRP ETF
Brad Garlinghouse, CEO of Ripple, celebrated the historic launch of the first spot-based XRP ETF in the US. Following years of legal battles with the SEC, this marks a significant victory for Ripple and the crypto industry. The ETF witnessed a highly successful debut, with $26 million of shares traded within 30 minutes, signaling strong investor demand. Analysts anticipate it may surpass the $57 million ETF launch record set by Solana's ETF earlier this year.
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Ripple CEO Celebrates XRP Spot ETF Launch
Brad Garlinghouse, chief executive officer at Ripple, has taken to social media to react to the successful launch of the first spot-based XRP exchange-traded fund (ETF) in the US.
He remarked enthusiastically on Twitter, saying: "It's (finally!) happening". Tweet Link
Years of Struggle with the SEC
This event carries years of backstory, as Ripple spent years battling the US Securities and Exchange Commission (SEC). Their prolonged legal struggle became a hallmark case in the cryptocurrency sector, receiving widespread attention globally.
Impact on Anti-Crypto Policies
According to a report by U.Today, analyst Nate Geraci suggested that the debut of the first pure spot XRP ETF might symbolize the "final nail in the coffin" for anti-crypto policies enforced by prior SEC administrations.
This launch marks a significant shift in the regulatory environment surrounding digital assets in the US.
A Promising Start for XRP ETF
The XRP ETF launch turned out to be one of the most successful financial debuts of the year. Within 30 minutes of launch, an impressive $26 million worth of XRPC shares were traded.
This signals a robust investor demand for the altcoin and highlights its growing recognition within mainstream financial markets.
Future Projections for XRPs ETF
Market analyst Eric Balchunas expressed optimism about the ETF, forecasting that it could exceed $57 million—a record set this year by the Solana ETF (BSOL).
This projection, if realized, would further validate XRP's position as a leading cryptocurrency and underscore its growing acceptance among institutional investors.