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 assist an XRP ETF, Garlinghouse mentioned:
“We will surely welcome it.”
Nevertheless, he didn’t describe any particular plans towards that finish. When requested whether or not Ripple is presently in talks with asset managers reminiscent of BlackRock to subject an ETF, he responded:
“I’m not going to touch upon that. I do know BlackRock has mentioned some issues publicly. You understand, we predict it is smart 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 prompt that BlackRock was pursuing an XRP ETF. Nevertheless, the asset supervisor rapidly confirmed that the submitting was pretend.
No XRP ETF exists within the US at current. Nevertheless, companies together with Coinshares and 21Shares supply XRP exchange-traded merchandise (ETP) in European markets.
Garlinghouse expects extra crypto ETFs
Garlinghouse added that different crypto merchandise are prone to grow to be out there. He mentioned:
“I feel it solely is smart there will likely be different ETFs too. It’s a little bit like, you realize, the earliest days of the inventory market. You don’t actually need publicity to 1 inventory or one firm. You need to usually take into consideration diversifying threat.”
Elsewhere within the interview, Garlinghouse mentioned that he expects “a number of ETFs round completely different tokens.” He additionally prompt that ETF baskets might diversify threat additional. Nevertheless, he added that it’s “onerous to foretell” when such funds will come into existence.
Garlinghouse additionally commented on the latest approval of spot Bitcoin ETFs and mentioned it was a “unhappy actuality” that the SEC permitted these purposes solely after a courtroom motion. Grayscale sued the SEC over its earlier dismissed utility and received a victory in 2023, which partially led the company to approve spot Bitcoin ETFs in January.
Garlinghouse endorsed crypto ETFs broadly. He prompt that these funds make markets safer and extra sturdy and praised the funding group for embracing them.
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