Ripple boss Brad Garlinghouse is confident that the U.S. Securities and Exchange Commission (SEC) will approve an exchange-traded fund (ETF) for the cryptocurrency his firm’s founders helped create, even if his fintech company has been at loggerheads with the regulator for years. 

Fund manager Bitwise filed for an XRP ETF at the beginning of the month. The fund, if approved, would trade on a stock exchange and give investors exposure to XRP without actually having to hold the cryptocurrency. 

The filing was a surprise because Ripple—whose founders created XRP—has been locked in a legal battle with the SEC since 2020. Even so, Garlinghouse doesn’t appear concerned.

“To me it’s just inevitable [that an XRP ETF will be approved],” Ripple CEO Garlinghouse said in a Bloomberg television interview Wednesday, adding that there’s “demand from institutions and retail to access this asset class.” 

Another asset manager, Canary Capital, also this month filed for an application to launch an XRP-based ETF. 

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Author: Mathew Di Salvo