XRP ETF (exchange-traded funds) is bound to happen due to institutional demand for cryptocurrency investment tools, according to Ripple CEO Brad Garlinghouse. He reiterated that ETFs allow institutions to gain exposure to digital currencies without buying them directly.
Garlinghouse said the success of Bitcoin ETFs and Ethereum ETFs has paved the way for further crypto ETFs, like XRP. He further said the recent launch of XRP futures ETFs on CME will be pivotal towards the approval of a spot ETF for XRP.
XRP currently trades at $2.34, increasing by 0.86% in 23 hours. A spot ETF will likely kickstart a rally that could push XRP to $3.
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