Ripple CEO Brad Garlinghouse commented on the prospects of an XRP exchange-traded fund (ETF) in an interview with Bloomberg on February 20.
When requested if Ripple would help an XRP ETF, Garlinghouse mentioned:
“We would definitely welcome it.”
Nevertheless, he didn’t describe any particular plans for this function. When requested whether or not Ripple is at present in talks with asset managers akin to BlackRock to challenge an ETF, he responded:
“I am not going to touch upon that. I do know BlackRock has mentioned some issues publicly. You already know, we expect it is smart for your complete XRP group… Ripple is clearly a vital curiosity within the XRP ecosystem stakeholders, however we aren’t the one ones.”
In November 2023, a leaked doc revealed that BlackRock was pursuing an XRP ETF. Nevertheless, the asset administration firm rapidly confirmed that the submitting was false.
There may be at present no XRP ETF in america. Nevertheless, firms together with Coinshares and 21Shares provide XRP exchange-traded merchandise (ETPs) within the European market.
Garlinghouse expects extra crypto ETFs
Garlinghouse added that different crypto merchandise can also be launched. He mentioned:
“I believe there shall be different ETFs that make sense. It’s kind of just like the early days of the inventory market. You do not actually wish to spend money on one inventory or one firm. You typically wish to take into consideration diversifying your danger.”
Elsewhere within the interview, Garlinghouse mentioned he anticipated “a number of ETFs round totally different tokens.” He additionally mentioned that ETF baskets can additional diversify dangers. Nevertheless, he added that it was “troublesome to foretell” when such funds would emerge.
Garlinghouse additionally commented on the latest approval of spot Bitcoin ETFs, saying it was a “unhappy actuality” that the SEC solely accepted these purposes after court docket proceedings. Grayscale sued the SEC over a beforehand rejected utility and received in 2023, which was partly chargeable for the company’s approval of a spot Bitcoin ETF in January.
Garlinghouse broadly endorses crypto ETFs. He advised the funds make markets safer and stronger and praised the funding group for supporting them.
The publish Ripple will “welcome” XRP ETF, CEO says appeared first on CryptoSlate.
