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 Cover image via <a href="https://u.today/">U.Today</a>
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Ripple CEO Brad Garlinghouse recently <a href="https://x.com/bgarlinghouse/status/1834226649384296727">took</a> to the X social media platform to react to digital currency asset manager Grayscale launching an XRP trust.&nbsp;
Garlinghouse expressed his apparent surprise and bewilderment with the help of a hilarious GIF that has gained traction within the XRP community.&nbsp;
<blockquote>
 <a href="https://t.co/xbjH6ulqbs">https://t.co/xbjH6ulqbs</a> <a href="https://t.co/Og1CxPmdnw">pic.twitter.com/Og1CxPmdnw</a>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1834226649384296727?ref_src=twsrc%5Etfw">September 12, 2024</a>
</blockquote> 
The Ripple executive later added that he was "pleasantly" surprised to see the announcement. "As I’ve said before, with XRP having regulatory clarity in the US and other countries, I expect it’s only a matter of time for this space to grow," he said.&nbsp;
Fox Business first reported earlier this Thursday that Grayscale intended to roll out a closed-end fund for the cryptocurrency.&nbsp;
This could be a stepping stone to eventually launching an XRP exchange-traded fund.&nbsp;
The price of the controversial token has spiked by more than 5%.&nbsp;
As reported by U.Today, Garlinghouse has repeatedly stated that the launch of such a product was&nbsp;<a href="https://u.today/ripple-ceo-explains-why-xrp-etf-is-inevitable">"inevitable."</a> The Ripple executive claimed that investors would not want to have single-asset exposure. He drew parallels between crypto and precious metals, arguing that gold investors might also want to get access to silver.&nbsp;
The Ripple executive also pointed to the market cap of the token in ordero to explain why it would be potentially considered by ETF issuers.&nbsp;
Last year, the token gained regulatory clarity in the U.S., with Judge Analisa Torres delivering a victory for Ripple by not recognizing secondary XRP sales as unregistered securities.&nbsp;
In early 2021, shortly after Ripple famously got sued by the SEC, Grayscale liquidated its XRP Trust and removed the token from its large-cap fund. However, the token returned to the fund earlier this year.&nbsp;
While commenting on the recent announcement about the XRP trust, Grayscale's Rayhaneh Sharif-Askary has said that XRP could have the potential to transform the traditional financial infrastructure.&nbsp;

Ripple CEO Reacts to XRP’s Massive Milestone

U_Today

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