- Brad Garlinghouse, CEO of Ripple, compared the Bitcoin ETF’s performance with gold ETFs to highlight the strong growth in cryptocurrency.
- This anticipation for the XRP-based ETF indicates a bullish outlook, not just for XRP, but also the crypto market as a whole.
Brad Garlinghouse’s, Ripple CEO in an interview noteworthy observation, According to the report, Bitcoin ETFs outperformed gold ETFs. Garlinghouse contrasts Bitcoin ETFs versus Gold ETFs in terms of their asset accumulations and inflows. Garlinghouse emphasizes this significant milestone for asset classes.
The shift in interest and confidence of investors towards cryptocurrency-based exchange traded funds has been further demonstrated by this change. Brad says that Bitcoin ETFs’ upward trend has been much steeper than gold ETFs.
#Ripple The following are some of the most effective ways to increase your ROI: @bgarlinghouse
Brad Garlinghouse “A #XRP ETFs are inevitable.” Fox Business pic.twitter.com/oJAm5sCrWW
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) June 4, 2024
Brad has compared SPDR to the list of SPDR Gold Shares ETF on New York Shares in 2004 to the debut of BlackRock’s IBIT Bitcoin ETF. After the birth of SPDR Gold Shares ETF, it took the investment fund 3 years to accumulate $10 billion worth of assets. Nevertheless, it has only taken BlackRock’s IBIT Bitcoin ETF 5 months to accumulate double the amount SPDR Gold Shares ETF amassed.
Garlinghouse said that it took Bitcoin ETFs 2 months to achieve what Gold ETFs took over a whole year.
This growth represents a larger trend. financial system. Investors have a high interest in cryptocurrency. The cryptocurrency industry can offer a wide range of benefits and high profits. Garlinghouse also stated that the trend will not end with Bitcoin ETF. Ethereum ETF approval is expected to follow, expressing an optimistic outlook for cryptocurrency.
Brad also stressed the importance of diversifying your investments. Garlinghouse believes that investors are no longer satisfied with a simple exposure to a single asset. Garlinghouse compared crypto ETFs to gold ETFs, which was followed by commodity funds.
Garlinghouse said that people don’t just want exposure to one type of commodity. You might also consider exposure to other commodities if your exposure is to gold. […] To me it makes complete sense not to expose yourself to a single asset.
According to Brad, the approval of crypto ETFs such as Ethereum, XRP and others is reasonable. The investment funds are designed to meet the needs of the investors, who do not want to bet on a single asset but rather spread their wealth.
Investors eye XRP Coin as Next Breakout Currency
Brad’s focus was on XRP, a possible ETF that would be in line with Bitcoin. As reported earlier by Crypto News FlashThe XRP CEO has predicted the community will see the launch of XRP ETF in as little as next year. He also noted that “an XRP ETF is simply inevitable”.
Ripple President later endorsed this optimism. Monica LongShe emphasized XRP’s significant daily trading volume and strong position on the market. She said that XRP’s ETF was at the leading edge of cryptocurrency due to the factors mentioned above.
ETFs, with their increased access and increase in institutional investments, are clearly driving price increases.
The approval of XRP-based ETFs is already causing speculations on the price of XRP which trades currently at$0.527, a 0.58% This surge has been occurring for the last week. This further indicates the positive sentiment in the market surrounding the XRP Token.
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Source: www.crypto-news-flash.com