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Ripple CEO Brad Garlinghouse has emphasized that a decision from BlackRock to introduce an XRP exchange-traded fund (ETF) would “make sense” for the XRP community.
This came during an interview with Bloomberg yesterday. Garlinghouse was asked about the likelihood of an XRP ETF becoming a reality, especially amid increased speculation following the U.S. regulator’s approval of the inaugural crypto spot ETF for Bitcoin.
XRP ETF Makes the Market Safer
The Ripple CEO responded by suggesting that it is logical to anticipate the emergence of other ETFs following Bitcoin’s lead.
He likened the situation to the early days of the stock market, where investors sought diversified exposure beyond individual stocks or companies.
Assertively, Garlinghouse argued that additional crypto spot ETFs, such as XRP, will emerge to help spread risk.
“So I think we will see other ETFs. It makes these markets safer. It makes them more robust. And so this is good for the investment community,” he remarked.
BlackRock Launching XRP ETF with Ripple?
Meanwhile, the Bloomberg correspondent pressed further, asking whether Ripple would welcome an XRP ETF. Ripple’s CEO responded affirmatively that Ripple will welcome it, adding that the XRP spot ETF is inevitable.
On this premise, the journalist inquired whether Ripple was discussing the possibility of launching an XRP ETF with major issuers like BlackRock.
However, Garlinghouse declined to provide a straightforward yes or no. This cautious stance mirrors BlackRock’s response when questioned on the matter. In Garlinghouse’s words:
“I’m not going to comment on that. I know BlackRock has said some things publicly.”
Yet, the Ripple CTO believes that such a move to see BlackRock launch an XRP ETF “makes sense for the XRP community overall.”
He elaborated on this viewpoint by noting that before the SEC lawsuit, XRP held the position as the second most valuable digital asset, which Ethereum (ETF) now occupies.
Notably, BlackRock has a pending application to list an ETH spot exchange-traded fund.
Overall, Garlinghouse’s comment on the potential of an XRP ETF has sparked excitement among crypto community members.
🚨 BREAKING: RIPPLE & BLACKROCK CREATING $XRP ETF !?! CEO DROPS A BOMBSHELL ON BLOOMBERG CRYPTO🚨📈
Ripple CEO, Brad Garlinghouse, hints at a game-changing connection between BlackRock and Ripple launching an XRP ETF in the USA 🇺🇸 …
Stating: “I think it makes sense for the… pic.twitter.com/MyC6R2Ld78
— Good Morning Crypto (@3TGMCrypto) February 20, 2024
However, Garlinghouse expressed reservations about predicting the exact timeline for the arrival of XRP ETF. He expanded on this viewpoint by highlighting that it took a court decision to push the SEC to endorse Bitcoin spot ETFs.
Essentially, Garlinghouse emphasized that other crypto ETFs may not come soon.