Monica Long, President of Ripple, is optimistic about the potential for an XRP exchange-traded fund (ETF), highlighting its value. Long also noted Ripple’s increasing momentum, pointing to the rising demand for RWA tokenization and their venture into stablecoins while speaking with Arjun Kharpal in Amsterdam.
In the discussion, Long touched upon the growing institutional interest in cryptocurrencies, particularly mentioning the approval of Bitcoin and Ethereum ETFs in the US. She highlighted the opportunity for traditional players to enter the market through ETFs and the tokenization of real-world assets.
Long mentioned that the stablecoin market, currently valued at $160 billion, is expected 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 launch a trusted US dollar stablecoin, drawing on its decade-long reputation as a trusted and compliant player in the industry.
The launch is anticipated later this year, with the company actively working on various aspects such as banking relationships, compliance, and the interaction between the stablecoin and XRP. Additionally, Long suggested that an XRP ETF would be a logical progression, given XRP’s regulatory clarity 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 expressed by Long and other key figures in the cryptocurrency space.
Garlinghouse stressed the importance of diversification in crypto investments, highlighting the significance of spot ETFs. He pointed to the rapid growth of US Bitcoin spot ETFs as evidence of a strong market demand for crypto investment products. This trend, he believes, underscores the need for the introduction of other cryptocurrency ETFs, including XRP.
Garlinghouse’s optimism about the XRP ETF launch is fueled by recent shifts in the Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. Despite regulatory hurdles, he expressed confidence in a relatively near timeline for the XRP ETF launch, suggesting it could be a reality by 2025. He emphasized XRP’s unique qualities, 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 content is for informational purposes only and should not be construed as financial advice. The opinions expressed in this article are personal and do not represent The Crypto Basic’s views. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses.
