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An XRP ETF is welcome for Ripple, says CEO

source-logo  cryptonewsz.com 21 February 2024 11:30, UTC

Brad Garlinghouse, the Ripple CEO, recently talked about prospects for an XRP ETF. According to the CEO, an XRP exchange-traded fund would be welcome.

During a recent interview, Garlinghouse said that “Ripple would certainly welcome it” while addressing an XRP ETF. But the CEO made sure not to give any more hints about the prospect.

When questioned about Ripple being in talks with any asset manager, Garlinghouse responded: “The team will not comment on such topics right now. BlackRock has stated some things publicly. The move will make sense for the Ripple community. Ripple is a crucial stakeholder in the XRP ecosystem. However, it is not the sole player.”

The rumors surrounding an XRP ETF aired in November 2023. A leaked filing revealed that BlackRock was filing for an XRP ETF. The asset manager quickly refuted the news, though.

During the interview, the Ripple CEO also talked about more ETFs emerging in the market. Garlinghouse suggested that ETFs can diversify risk, but predicting when such funds will be established is tough.

As for the recently approved Bitcoin ETF, Garlinghouse expressed concern that the SEC only released an approval after a court action. It was Grayscale who sued the SEC for dismissing ETF applications and won in 2023.

Ripple achieved a similar feat after earning a partial win against the SEC in its long-fought legal battle. XRP’s price jumped considerably after the win, but it is currently trading at a 2.58% dip in 24 hours. XRP is currently priced at 0.5481 dollars, but the XRP price forecast expects it to hit 2.56 dollars in 2024.

The Ripple CEO has been endorsing crypto ETFs across the board. Garlinghouse suggested that such funds make markets more robust and much safer. Although there are no official announcements regarding the release of an XRP ETF, given Ripple’s market dominance, its introduction is inevitable.