Cirdan gave it to him
At the time that the Istatri cam over from the Undying lands Cirdan was still a major leader in the elven world. He had a lot of fore sight and gave the ring to Gandalf because he thouyght that it would be better used with him. Apparenty he was right because Galadrial felt the same way with the white counsel. She wanted Gandalf to be head of it and not Sauraman. And eventually Sauraman turned evil.
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