Ripple would “welcome” an XRP ETF, CEO says
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 mentioned:
“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 concern an ETF, he responded:
“I’m not going to touch upon that. I do know BlackRock has mentioned some issues publicly. You already know, we predict it is smart for the XRP neighborhood total … Ripple clearly is an important stakeholder within the XRP ecosystem, however we’re not the one participant.”
In November 2023, a leaked submitting recommended 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, corporations 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 obtainable. He mentioned:
“I believe it solely is smart there can be different ETFs too. It’s somewhat like, you realize, the earliest days of the inventory market. You don’t really need publicity to 1 inventory or one firm. You need to sometimes take into consideration diversifying threat.”
Elsewhere within the interview, Garlinghouse mentioned that he expects “a number of ETFs round completely different tokens.” He additionally recommended that ETF baskets might diversify threat 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 mentioned it was a “unhappy actuality” that the SEC permitted these functions solely after a court docket motion. Grayscale sued the SEC over its earlier dismissed software and gained a victory in 2023, which partially led the company to approve spot Bitcoin ETFs in January.
Garlinghouse endorsed crypto ETFs broadly. He recommended that these funds make markets safer and extra strong and praised the funding neighborhood for embracing them.
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