Brad Garlinghouse believes XRP Spot ETF is "inevitable"

Following the approval of Bitcoin and Ethereum ETFs in the U.S., Ripple CEO Brad Garlinghouse is optimistic that a spot product on XRP could be launched soon. In an interview at the crypto exchange "Consensus" in Austin, Texas, the 53-year-old said the admission of an XRP spot ETF in the U.S. is "inevitable."

However, regulations would have to change first. In an interview with CNBC, Garlinghouse criticized the "crypto hostile" attitude of the U.S. Securities and Exchange Commission (SEC) in particular.

The Ripple CEO hopes for a turnaround after the U.S. election. His company Ripple Labs recently donated another 25 million to the lobbying group Fairshake. This group campaigns for the interests of the crypto industry in the election campaign. There is currently more than US$94 million in the pot of money.

In an interview with CNBC, Garlinghouse justified the donation as follows: "It is incredibly important for the U.S. to remain competitive in cryptoregulation. That has not been the case ... By investing in Fairshake, we want to support pro-cryptocurrency advocates who advocate for an innovative framework for businesses and investor protection."

In the past, Ripple Labs was targeted by the SEC, which accused the company of selling unregistered securities. After years of litigation, a court ruled that XRP was not a security. Only institutional trading was categorized as securities trading.