Ripple President Monica Long has put forward the argument that launching a spot XRP ETF in the US market would be a sensible move for an asset management firm. Long shared this viewpoint during a recent interview, where she emphasized that an application for an XRP spot ETF is likely due to the asset meeting the key criteria for such an investment product. Long identified five factors that make XRP deserving of an ETF.
Firstly, Long highlighted that XRP has consistently been one of the most prominent crypto assets, consistently ranking in the top 10 since its inception. Currently, XRP holds the seventh position in terms of market value, with a valuation exceeding $25 billion. Among risk assets, XRP only falls behind Bitcoin, Ethereum, BNB, and Solana.
Additionally, the Ripple executive pointed out that XRP is one of the most actively traded assets, citing the wide range of markets where XRP is available. XRP is listed and tradable on over 100 crypto exchanges, including major US platforms like Coinbase, Kraken, and Uphold.
Furthermore, Long emphasized that the most significant factor supporting the case for an XRP ETF is the July 2023 court ruling, which clarified that XRP itself is not a security. She underscored that XRP and Bitcoin are the only two crypto assets in the US with clear regulatory status.
Considering these factors, Long expressed optimism about the possibility of an XRP spot ETF emerging after the successful approval of Bitcoin and Ethereum ETFs.
The response from the XRP community, known as the XRP Army, has been overwhelmingly positive in light of Ripple’s president’s bullish stance. Abdullah Nassif, host of the Good Morning Crypto podcast, conducted a poll among community members, and the majority responded affirmatively when asked if they believe an XRP ETF will be launched this year.
It is worth noting that other Ripple executives, including CEO Brad Garlinghouse, have echoed similar sentiments. In a February interview with Bloomberg, Garlinghouse stated that an XRP ETF would make sense for the XRP ecosystem. He further projected a timeline of 2025 for the launch of an XRP spot ETF.
However, not all industry leaders share the same optimism. Nate Geraci, president of The ETF Store, and Bloomberg analyst James Seyffart believe that the crypto industry is not yet ready for the introduction of an XRP ETF. Seyffart even argued that the earliest possible launch would be in 2026.
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