Ripple’s President, Monica Long, shared her positive outlook on the potential for an XRP exchange-traded fund (ETF), emphasizing its value. Long also highlighted Ripple’s momentum, pointing to increased interest in RWA tokenization and their foray into stablecoins during a conversation with Arjun Kharpal in Amsterdam.
Long discussed the growing institutional interest in cryptocurrencies, specifically mentioning 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.
Stablecoins, currently valued at $160 billion, are projected to reach $3 trillion in the near future due to the demand for convenient access to US dollars and efficient global payments. Ripple is planning to introduce a trusted US dollar stablecoin, drawing on its decade-long reputation as a reliable and compliant player in the enterprise sphere.
The company is set to launch the stablecoin later this year, with a focus on establishing banking and distribution partnerships, ensuring compliance, and exploring the relationship between the stablecoin and XRP. Long also suggested that an XRP ETF could be a logical progression given XRP’s regulatory clarity and strong market presence.
In a recent interview with FOX Business, Ripple’s CEO, Brad Garlinghouse, discussed the impending launch of an XRP spot exchange-traded fund (ETF), echoing sentiments expressed by the company’s president and other key figures in the cryptocurrency industry.
Garlinghouse highlighted the need for diversification in crypto investments, emphasizing the significance of spot ETFs. He pointed to the rapid growth of US Bitcoin spot ETFs as evidence of a robust market appetite for crypto investment products, underscoring the need for the introduction of other cryptocurrency ETFs, including XRP.
Garlinghouse’s optimism about the XRP ETF launch is fueled by recent changes in the Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. Despite regulatory hurdles, he expressed confidence in a relatively near-term timeline for the XRP ETF launch, suggesting it could become a reality by 2025. He emphasized XRP’s unique features, such as speed and low transaction costs, while noting a slight 0.24% decrease in XRP’s value over the past day, currently trading at $0.5266.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The opinions expressed are solely those of the author and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses.