Ripple CEO Brad Garlinghouse is betting big on XRP ETFs hitting the market by the end of 2025. His optimism isn’t just wishful thinking—it’s built on solid ground following recent legal wins and multiple ETF filings already in the pipeline. The executive expects a flood of approvals coming in Q3 2025. No surprise he’s feeling confident after the SEC dropped its appeal in their long-running legal battle.
Ripple’s chief sees XRP ETFs as inevitable—not wishful thinking but a logical next step after hard-fought legal victories.
That legal drama? It was a doozy. Started back in December 2020 when the SEC accused Ripple of selling $1.3 billion in unregistered securities. Fast forward to August 2024, and a court ruled XRP isn’t a security when traded on public exchanges. This decision provided crucial regulatory clarity for the broader cryptocurrency market. Ripple got slapped with a $125 million penalty for institutional sales—pocket change compared to the $2 billion the SEC wanted. The SEC finally waved the white flag and withdrew its appeal, though Ripple’s still pushing forward with its own.
XRP used to be crypto royalty—second only to Bitcoin. Now it’s stuck around $0.55, practically begging for a catalyst. An ETF could be exactly what the doctor ordered. JPMorgan estimates up to $8 billion could flow into XRP ETFs if approved. Not too shabby.
The odds look pretty good too. Polymarket gives XRP ETFs a 78% chance of SEC approval, while Bloomberg analysts put it at 65% back in February. There are currently five applications under review, with a decision deadline looming in mid-October. Unlike spot trading that allows immediate transactions, these ETFs would function as derivatives trading instruments, potentially expanding XRP’s appeal to traditional investors. BlackRock, despite its industry dominance, has shown measured approach to XRP ETFs and may wait until after complete regulatory clarity emerges.
Trump’s administration might give XRP another boost by including it in a planned national crypto reserve. The government already holds $17.45 billion in seized crypto assets. XRP isn’t in that pile yet, but that could change.
The market’s already responding—XRP is up 6.4% while Bitcoin’s down 4.7%. If XRP ETFs follow the Bitcoin ETF playbook (which raked in $107 billion), XRP holders might finally have something to celebrate. About time, right?
