Brad Garlinghouse, chief executive officer at Ripple, has taken to social media to react to the successful launch of the first spot-based XRP exchange-traded fund (ETF) in the US.
Those several words carry years of backstory, given that Ripple had spent years fighting the US Securities and Exchange Commission.
As reported by U.Today, analyst Nate Geraci previously claimed that the debut of the first pure spot XRP ETF would be the final nail in the coffin for the anti-crypto policies enacted by previous SEC administrations.
The most successful debut of the year?
Within 30 minutes of launch, $26 million worth of XRPC shares were traded.
That’s an extremely promising start, which essentially means that there is strong investor demand for the popular altcoin.
Balchunas expects it could surpass $57 million (the record for ETF launch this year, set by a Solana ETF (BSOL).