Ripple’s President, Monica Long, is optimistic about the potential of an XRP exchange-traded fund (ETF) and the value it could bring. Long highlighted the company’s momentum, pointing to the increasing demand for RWA tokenization and their recent foray into the stablecoin market during a conversation with Arjun Kharpal in Amsterdam.
In the discussion, Long touched upon the rising institutional interest in cryptocurrencies, specifically mentioning the approval of Bitcoin and Ethereum ETFs in the US. She also discussed 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 increase to $3 trillion in the near future due to the need for easy access to US dollars and efficient global payments. Ripple plans to introduce a reliable US dollar stablecoin to the market, leveraging its decade-long reputation as a trustworthy and compliant player in the industry.
The launch is anticipated later this year, with the company actively working on various aspects such as banking and distribution relationships, compliance, and the relationship between the stablecoin and XRP. Long also hinted at the potential of an XRP ETF, given XRP’s regulatory clarity and strong market position.
Furthermore, in a recent interview with FOX Business, Ripple’s CEO Brad Garlinghouse discussed the upcoming launch of an XRP spot exchange-traded fund (ETF), echoing sentiments expressed by the company’s president and other influential figures in the cryptocurrency sector.
Garlinghouse emphasized the importance of diversification in crypto investments, underscoring the significance of spot ETFs. He highlighted the rapid growth in valuation of US Bitcoin spot ETFs, indicating a robust market demand for crypto-based investment products. This trend, he believes, underscores the need for the introduction of other cryptocurrency ETFs, including XRP.
Garlinghouse’s optimism about the XRP ETF launch is fueled by recent shifts in the Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. Despite regulatory hurdles, Garlinghouse expressed confidence in a relatively near timeline for the XRP ETF launch, indicating it could materialize by 2025. He emphasized XRP’s unique attributes, such as speed and low transaction costs. Meanwhile, XRP has experienced a 0.24% decrease in value over the last 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 in this piece are solely the author’s and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic bears no responsibility for any financial losses incurred.