Back to the list

Ripple CEO Open to XRP ETF, But Tight-Lipped on Plans

source-logo  coinengineer.io 21 February 2024 08:00, UTC

Ripple CEO Brad Garlinghouse expressed support for an XRP exchange-traded fund (ETF) in a recent interview, but stayed mum on whether the company is actively pursuing one.

“We would certainly welcome it,” he said on Ripple ETF, acknowledging the potential benefit for the XRP community. However, he dodged questions about potential partnerships with asset managers like BlackRock, citing their public statements and Ripple’s role as just one player in the ecosystem.

BlackRock itself shut down rumors of an XRP ETF last year, though European markets already offer similar XRP exchange-traded products (ETPs).

Looking beyond XRP, Garlinghouse predicted a wider acceptance of crypto ETFs, comparing it to the early days of the stock market where diversification was key. He envisions “multiple ETFs around different tokens” and even ETF baskets for broader exposure, but acknowledged the uncertain timeline for their arrival.

He criticized the SEC’s recent greenlight for spot Bitcoin ETFs, calling it a “sad reality” that it took court action (Grayscale’s successful lawsuit) to push the agency’s hand. He views crypto ETFs positively overall, suggesting they enhance market safety and attract valuable investment.

In the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.