Ripple CEO Brad Garlinghouse highlighted the increasing accessibility of cryptocurrency to institutional investors following the launch of XRP-linked funds on Wall Street. Garlinghouse discussed the factors driving the popularity of crypto exchange-traded funds (ETFs) on May 23, noting that Wall Street investors previously lacked direct access to crypto. This shift allows previously untapped capital from endowments, pension funds, and mutual funds to enter the crypto market through traditional channels.
Garlinghouse emphasized that crypto ETF launches are institutionalizing the crypto industry. He also acknowledged the positive market response to spot Bitcoin ETFs, anticipating they will soon rival gold ETFs. Recently, several funds linked to XRP have been introduced, including Teucrium Investment Advisors' 2x XRP futures ETF launched on April 8 and the Chicago Mercantile Exchange's (CME) XRP futures launched on May 19.
Volatility Shares launched the first XRP futures ETF, along with a twice-leveraged XRP futures ETF, on May 22. Currently, nine applications for spot XRP ETFs are awaiting regulatory approval. XRP, with a market cap of $134 billion, was trading at $2.29 as of May 25, reflecting a 4% decrease over the past month.
This article is based on our author's analysis of materials taken from the following resource: TheStreet. Published May 25, 2025.