Ripple’s President, Monica Long, shared her positive outlook on the potential of an XRP exchange-traded fund (ETF), highlighting its value during a recent discussion in Amsterdam with Arjun Kharpal. Long also emphasized the company’s momentum, pointing to the increasing demand for RWA tokenization and their foray into the stablecoin sector.
In the conversation, Long touched upon the rising institutional interest in cryptocurrencies, particularly noting the approval of Bitcoin and Ethereum ETFs in the US. She also mentioned the possibility of traditional players entering the market through ETFs and the tokenization of real-world assets.
Long mentioned that stablecoins, currently valued at $160 billion, are projected to reach $3 trillion in the near future due to the demand for easy access to US dollars and efficient global payments. Ripple is preparing to launch a trusted US dollar stablecoin later this year, leveraging its decade-long reputation as a reliable and compliant enterprise player.
Moreover, Long suggested that an XRP ETF could be a logical progression given XRP’s regulatory clarity and strong market position. Ripple CEO Brad Garlinghouse also discussed the imminent launch of an XRP spot ETF in a recent interview with FOX Business, echoing similar sentiments.
Garlinghouse emphasized the need for diversification in crypto investments and highlighted the rapid growth of US Bitcoin spot ETFs, indicating a growing market appetite for crypto investment products. He believes that the introduction of other cryptocurrency ETFs, including XRP, is essential.
The CEO’s confidence in the XRP ETF launch is fueled by recent shifts in the Securities and Exchange Commission’s approach to cryptocurrency regulation. Despite regulatory hurdles, Garlinghouse remains optimistic about a possible launch by 2025, citing XRP’s unique features such as speed and low transaction costs.
As of now, XRP has experienced a slight decline of 0.24% in the last day and is currently trading at $0.5266. It is important to note that this content is for informational purposes only and should not be considered financial advice. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic does not take responsibility for any financial losses incurred.