Ripple’s President, Monica Long, shared her positive outlook on the potential of an XRP exchange-traded fund (ETF), highlighting the value it could bring. She also mentioned the company’s increasing momentum, pointing to the rising demand for RWA tokenization and their expansion into the stablecoin sector during a conversation with Arjun Kharpal in Amsterdam.
Long discussed the growing institutional interest in cryptocurrencies, especially noting the approval of Bitcoin and Ethereum ETFs in the US. She also mentioned the opportunity for traditional players to enter 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 easy access to US dollars and efficient global payments. Ripple plans to introduce a reliable US dollar stablecoin, drawing on its decade-long reputation as a trusted and compliant enterprise player.
The launch is anticipated later this year, with the company actively working on various aspects like banking and distribution relationships, compliance, and the relationship between the stablecoin and XRP. Long also suggested that an XRP ETF could be a logical next step, given XRP’s regulatory clarity and strong market position.
Additionally, in a recent interview with FOX Business, Ripple CEO Brad Garlinghouse discussed the upcoming launch of an XRP spot exchange-traded fund (ETF), echoing the sentiments expressed by the company’s president and other prominent figures in the cryptocurrency industry.
Garlinghouse emphasized the importance of diversification in crypto investments, highlighting the significance of spot ETFs. He pointed out the rapid growth in valuation of US Bitcoin spot ETFs, indicating a growing market interest in crypto-based investment products. This trend, he believes, underscores the need for the introduction of other cryptocurrency ETFs, including XRP.
The CEO’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 remains confident in a relatively soon 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. Meanwhile, XRP has experienced a slight decrease of 0.24% in the last day and is 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 the author’s own and do not necessarily reflect The Crypto Basic’s views. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses.
