Ripple would “welcome” an XRP ETF, CEO says

Ripple CEO Brad Garlinghouse commented on potentialities for an XRP commerce-traded fund (ETF) in an interview with Bloomberg on Feb. 20.

When requested whether or no longer Ripple would reinforce an XRP ETF, Garlinghouse stated:

“We would absolutely welcome it.”

However, he failed to command any certain plans towards that cease. When requested whether or no longer Ripple is presently in talks with asset managers equivalent to BlackRock to field an ETF, he replied:

“I’m no longer going to commentary on that. I know BlackRock has stated some issues publicly. You know, we mediate it is a ways wise for the XRP neighborhood total … Ripple clearly is a fundamental stakeholder within the XRP ecosystem, but we’re no longer the actual participant.”

In November 2023, a leaked filing suggested that BlackRock was as soon as pursuing an XRP ETF. However, the asset manager snappy confirmed that the filing was as soon as flawed.

No XRP ETF exists within the US at fresh. However, corporations together with Coinshares and 21Shares supply XRP commerce-traded merchandise (ETP) in European markets.

Garlinghouse expects more crypto ETFs

Garlinghouse added that other crypto merchandise tend to changed into on hand. He stated:

“I mediate it most attention-grabbing is wise there will be other ETFs too. It’s a miniature bit like, , the earliest days of the stock market. You don’t in actuality desire publicity to 1 stock or one company. You prefer to each and each so veritably mediate about diversifying possibility.”

In different places within the interview, Garlinghouse stated that he expects “more than one ETFs around diversified tokens.” He additionally suggested that ETF baskets may per chance seemingly per chance diversify possibility additional. However, he added that it’s “interesting to foretell” when such funds will reach into existence.

Garlinghouse additionally commented on essentially the most modern approval of region Bitcoin ETFs and stated it was as soon as a “unhappy actuality” that the SEC accredited those applications most attention-grabbing after a court action. Grayscale sued the SEC over its outdated pushed aside utility and received a victory in 2023, which partially led the company to approve region Bitcoin ETFs in January.

Garlinghouse endorsed crypto ETFs broadly. He suggested that these funds manufacture markets safer and more strong and praised the investment neighborhood for embracing them.