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.”
Nevertheless, he didn’t describe any particular plans towards that finish. When requested whether or not Ripple is at present in talks with asset managers resembling BlackRock to difficulty an ETF, he responded:
“I’m not going to touch upon that. I do know BlackRock has mentioned some issues publicly. You recognize, we expect it is sensible 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. Nevertheless, the asset supervisor shortly confirmed that the submitting was faux.
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 more likely to change into accessible. He mentioned:
“I believe it solely is sensible there shall be different ETFs too. It’s slightly like, , 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 danger.”
Elsewhere within the interview, Garlinghouse mentioned that he expects “a number of ETFs round totally different tokens.” He additionally recommended that ETF baskets might diversify danger additional. Nevertheless, he added that it’s “laborious to foretell” when such funds will come into existence.
Garlinghouse additionally commented on the current approval of spot Bitcoin ETFs and mentioned it was a “unhappy actuality” that the SEC authorised 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 sturdy and praised the funding neighborhood for embracing them.
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