Monica Long, the President of Ripple, shared her enthusiasm for the potential introduction of an XRP exchange-traded fund (ETF), highlighting its value during a recent discussion in Amsterdam with Arjun Kharpal. Long also discussed the company’s increasing momentum, pointing out the rising demand for RWA tokenization and their venture into the stablecoin market.
Long emphasized the growing interest of institutional investors in cryptocurrencies, particularly noting the approval of Bitcoin and Ethereum ETFs in the US. She also mentioned the possibility of traditional financial players entering the market through ETFs and the tokenization of real-world assets.
Stablecoins, currently valued at $160 billion, are predicted to reach $3 trillion in the near future due to the demand for easy access to US dollars and efficient global payments. Ripple intends to introduce a trusted US dollar stablecoin to the market, drawing on its decade-long track record as a reliable and compliant enterprise player.
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 position.
In a recent interview with FOX Business, Ripple CEO Brad Garlinghouse echoed Long’s sentiments about the XRP spot ETF launch, highlighting the positive outlook shared by key figures in the cryptocurrency industry.
Garlinghouse stressed the importance of diversifying crypto investments, particularly through spot ETFs, citing the rapid growth of US Bitcoin spot ETFs as an indicator of market interest in crypto investment products. He believes this trend underscores the need for the introduction of other cryptocurrency ETFs, including XRP.
The CEO expressed optimism about the approval of an XRP ETF, noting recent changes in the Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. Despite regulatory hurdles, Garlinghouse anticipates a relatively swift timeline for the XRP ETF launch, potentially by 2025. He highlighted XRP’s unique features, such as speed and low transaction costs. Meanwhile, XRP’s value has decreased by 0.24% in the last 24 hours, currently trading at $0.5266.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author’s opinions expressed in this content 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 incurred.