Ripple’s President, Monica Long, shared her positive outlook on the potential for an XRP exchange-traded fund (ETF) during a recent discussion in Amsterdam with Arjun Kharpal. Long highlighted the company’s increasing momentum, pointing to the rising demand for RWA tokenization and their foray into stablecoins.
In the conversation, Long touched upon the growing institutional interest in cryptocurrencies, specifically mentioning the approval of Bitcoin and Ethereum ETFs in the US. She also discussed the possibility of traditional financial players entering the market through ETFs and the tokenization of real-world assets.
Long also talked about the surge in stablecoin value, projected to reach $3 trillion in the near future, driven by the need for easy access to US dollars and efficient global payments. Ripple is planning to introduce a trusted US dollar stablecoin leveraging its reputation as a compliant enterprise player with a decade-long legacy.
The launch of the stablecoin is expected later this year, with Ripple actively working on various aspects such as banking relationships, compliance, and the relationship between the stablecoin and XRP. Long hinted at the potential for an XRP ETF, given XRP’s regulatory clarity and strong market position.
In a separate interview with FOX Business, Ripple’s CEO Brad Garlinghouse also discussed the upcoming launch of an XRP spot exchange-traded fund (ETF), echoing sentiments from the company’s president and other industry leaders.
Garlinghouse highlighted the importance of diversifying crypto investments and the role of spot ETFs in the market. He pointed out the rapid growth of US Bitcoin spot ETFs as a sign of a robust market appetite for crypto investment products, underscoring the need for other cryptocurrency ETFs like XRP.
The CEO’s optimism about the XRP ETF launch is driven by recent shifts in the SEC’s approach to cryptocurrency regulation. Despite regulatory hurdles, Garlinghouse expressed confidence in a relatively swift timeline for the XRP ETF to become a reality by 2025. He emphasized XRP’s unique features such as speed and low transaction costs.
Meanwhile, XRP experienced a slight dip of 0.24% over the last day, currently trading at $0.5266. It’s important to note that this content is for informational purposes only and should not be taken as financial advice. Readers are encouraged to conduct their own research before making any investment decisions. The Crypto Basic does not take responsibility for any financial losses incurred.
