Monica Long, the President of Ripple, expressed enthusiasm about the potential for an XRP exchange-traded fund (ETF), highlighting its possible value. In a conversation with Arjun Kharpal in Amsterdam, Long also discussed Ripple’s increasing momentum, pointing out the rising demand for RWA tokenization and the company’s foray into the stablecoin sector.
Long noted the growing institutional interest in cryptocurrencies, especially with the recent approval of Bitcoin and Ethereum ETFs in the US. She mentioned the opportunity for traditional players to enter the market through ETFs and the tokenization of real-world assets. Long also explained that the stablecoin market, currently at $160 billion, is projected to reach $3 trillion in the near future due to the demand for easy access to US dollars and efficient global payments. Ripple is planning to introduce a trusted US dollar stablecoin, drawing on its 10-year history as a reliable and compliant enterprise player.
The launch of this stablecoin is expected later this year, with the company actively working on various aspects like banking and distribution relationships, compliance, and the connection between the stablecoin and XRP. Long also suggested that an XRP ETF could be a logical move, given XRP’s regulatory clarity and strong market position.
In a recent interview with FOX Business, Ripple CEO Brad Garlinghouse also discussed the upcoming launch of an XRP spot exchange-traded fund (ETF), echoing the sentiments expressed by the company’s president and other key figures in the cryptocurrency industry.
Garlinghouse emphasized the need for diversification in cryptocurrency investments, highlighting the significance of spot ETFs. He pointed out the rapid growth of US Bitcoin spot ETFs, indicating a high market demand for crypto-based investment products. Garlinghouse believes that this trend 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 changes in the Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. Despite regulatory hurdles, Garlinghouse is confident in a relatively quick timeline for the XRP ETF launch, suggesting it could become a reality by 2025. He emphasized XRP’s unique attributes, such as speed and low transaction costs. Currently, XRP has experienced a 0.24% decrease in value over the last day, trading at $0.5266.
Disclaimer: This article serves as informational content and should not be considered financial advice. The opinions expressed are solely those of the author and do not necessarily reflect The Crypto Basic’s viewpoint. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.