Ripple CEO Brad Garlinghouse commented on prospects for an XRP exchange-traded fund (ETF) in an interview with Bloomberg on Feb. 20.
When requested whether or not Ripple would help an XRP ETF, Garlinghouse stated:
“We will surely welcome it.”
Nonetheless, he didn’t describe any particular plans towards that finish. When requested whether or not Ripple is at present in talks with asset managers equivalent to BlackRock to challenge an ETF, he responded:
“I’m not going to touch upon that. I do know BlackRock has stated some issues publicly. You already know, we predict it is sensible for the XRP group total … Ripple clearly is a vital stakeholder within the XRP ecosystem, however we’re not the one participant.”
In November 2023, a leaked submitting advised that BlackRock was pursuing an XRP ETF. Nonetheless, the asset supervisor shortly confirmed that the submitting was faux.
No XRP ETF exists within the US at current. Nonetheless, companies together with Coinshares and 21Shares provide XRP exchange-traded merchandise (ETP) in European markets.
Garlinghouse expects extra crypto ETFs
Garlinghouse added that different crypto merchandise are more likely to turn into obtainable. He stated:
“I believe it solely is sensible there will likely be different ETFs too. It’s somewhat like, you realize, the earliest days of the inventory market. You don’t actually need publicity to at least one inventory or one firm. You wish to usually take into consideration diversifying danger.”
Elsewhere within the interview, Garlinghouse stated that he expects “a number of ETFs round completely different tokens.” He additionally advised that ETF baskets may diversify danger additional. Nonetheless, he added that it’s “laborious to foretell” when such funds will come into existence.
Garlinghouse additionally commented on the latest approval of spot Bitcoin ETFs and stated it was a “unhappy actuality” that the SEC authorised these purposes solely after a court docket motion. Grayscale sued the SEC over its earlier dismissed software and received a victory in 2023, which partially led the company to approve spot Bitcoin ETFs in January.
Garlinghouse endorsed crypto ETFs broadly. He advised that these funds make markets safer and extra sturdy and praised the funding group for embracing them.
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