Ripple CEO Brad Garlinghouse believes that the approval of a spot Bitcoin (BTC) ETF could lead to an influx of new capital into the cryptocurrency market. In a recent interview with CNBC, Garlinghouse expressed his optimism, stating, “An ETF getting approved could create a lot of capital flowing into the market.” However, he also acknowledged the need to consider other macro factors such as wars in the Middle East and Europe when assessing the impact of these positive developments.
Garlinghouse emphasized the importance of regulatory clarity and utility for the crypto industry to thrive. He stated, “The crypto industry needs regulatory clarity and ‘lots of’ utility to thrive.” In support of this, he highlighted the prospects of tokenization and its growing adoption. The demand for tokenized Treasuries has seen a significant surge, with cumulative data from rwa.xyz indicating a staggering $750 million. Crypto firms and investment funds are showing interest in these products to benefit from higher government bond rates, especially as the recent market downturn negatively impacted yields in the crypto lending space.
