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. , we expect it is smart for the XRP group total … Ripple clearly is an important stakeholder within the XRP ecosystem, however we’re not the one participant.”
In November 2023, a leaked submitting steered that BlackRock was pursuing an XRP ETF. Nevertheless, the asset supervisor shortly confirmed that the submitting was pretend.
No XRP ETF exists within the US at current. Nevertheless, 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 prone to turn out to be obtainable. He mentioned:
“I feel it solely is smart there might be different ETFs too. It’s somewhat like, you already know, the earliest days of the inventory market. You don’t actually need publicity to at least one 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 completely different tokens.” He additionally steered that ETF baskets might diversify danger additional. Nevertheless, he added that it’s “arduous 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 permitted these purposes solely after a court docket motion. Grayscale sued the SEC over its earlier dismissed utility and gained a victory in 2023, which partially led the company to approve spot Bitcoin ETFs in January.
Garlinghouse endorsed crypto ETFs broadly. He steered that these funds make markets safer and extra strong and praised the funding group for embracing them.
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