Ripple’s President Monica Long is confident about the potential of an XRP exchange-traded fund (ETF), highlighting the value it could bring. Long also mentioned the company’s increasing momentum, pointing to the rising demand for RWA tokenization and their entry into the stablecoin market during a conversation with Arjun Kharpal in Amsterdam.
Long discussed the growing institutional interest in cryptocurrencies, particularly noting the approval of Bitcoin and Ethereum ETFs in the US. She also mentioned the possibility of traditional players entering 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 need 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.
The launch is anticipated later this year, with the company actively working on various aspects such as banking relationships, compliance, and the connection between the stablecoin and XRP. Long also suggested that an XRP ETF could be the next logical step, given XRP’s clear regulatory status and strong market position.
Furthermore, Ripple CEO Brad Garlinghouse discussed the upcoming launch of an XRP spot exchange-traded fund (ETF) in a recent interview with FOX Business, echoing sentiments shared by the company’s president and other key figures in the cryptocurrency industry.
Garlinghouse highlighted the importance of diversifying crypto investments and the significance of spot ETFs. He pointed to the rapid growth of US Bitcoin spot ETFs, indicating a high market demand for crypto-based investment products. This trend, he believes, underscores the need for 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 that the XRP ETF could become a reality by 2025. He emphasized XRP’s unique features like 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 content is for informational purposes only and should not be considered as financial advice. The opinions expressed in this article are the author’s own and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.
