Monica Long, the President of Ripple, shared her positive outlook on the potential for an XRP exchange-traded fund (ETF), highlighting its value. She also discussed the company’s increasing momentum, mentioning the rising demand for RWA tokenization and their foray into the stablecoin market during a conversation with Arjun Kharpal in Amsterdam.
Long emphasized the growing institutional interest in cryptocurrencies, pointing to the approval of Bitcoin and Ethereum ETFs in the US. She also noted the opportunity for traditional players to enter the market through ETFs and the tokenization of real-world assets.
Long predicted that the stablecoin market, currently valued at $160 billion, could reach $3 trillion in the near future due to the demand for easy access to US dollars and efficient global payments. Ripple is set to introduce a trusted US dollar stablecoin, drawing on its 10-year reputation as a reliable 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 progression, given XRP’s regulatory clarity and strong market position.
Furthermore, in a recent interview with FOX Business, Ripple CEO Brad Garlinghouse discussed the upcoming launch of an XRP spot exchange-traded fund (ETF), echoing sentiments expressed by the company’s president and other key figures in the cryptocurrency industry.
Garlinghouse stressed the importance of diversification in crypto investments, highlighting the significance of spot ETFs. He pointed to the rapid growth in valuation of US Bitcoin spot ETFs, indicating a robust market appetite for crypto-based investment products. This trend, he believes, underscores the need for the introduction of other cryptocurrency ETFs, including XRP.
The CEO’s confidence in the XRP ETF launch stems from recent shifts in the Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. Despite regulatory hurdles, Garlinghouse remains optimistic about a relatively near 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 dip of 0.24% over the last day and is currently trading at $0.5266.
Disclaimer: This content is for informational purposes only and should not be construed as financial advice. The views expressed in this article are the author’s personal opinions and do not necessarily reflect the opinions of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic bears no responsibility for any financial losses.
