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Ripple’s CEO takes into account the prospect of the XRP ETF and predicts that others will follow suit.

The decision to create an XRP ETF could open up new investment opportunities for cryptocurrency market participants and make XRP more accessible to institutional and retail investors.

Date: 2024-02-21 Author: Łukasz Michałek
Ripple’s CEO takes into account the prospect of the XRP ETF and predicts that others will follow suit.

Brad Garlinghouse, CEO of Ripple, said he supports the XRP ETF fund because he believes investors will appreciate the difference it will provide.

In an interview with Bloomberg on Tuesday, he stated: “I think it makes sense. There will also be additional ETFs. It’s similar to the early days of the stock market. You don’t want to be tied to one stock or company. “Typically, you want to think about risk diversification, so I think we’ll see other ETFs.” – he said, noting that it is difficult to predict the exact timing of these funds.

Garlinghouse declined to answer a question about which issuers Ripple might talk to about a possible ETF.

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In January, the U.S. Securities and Exchange Commission authorized more than a dozen Bitcoin ETFs, introducing an additional investment mechanism for Wall Street.

This came after Grayscale ‘s success in a lawsuit over the SEC last year, when judges ordered the commission to re-examine an asset manager’s application that required a Bitcoin trust fund (GBTC) to be converted into an ETF.

SEC Chairman Gary Gensler said the regulator would reconsider the applications in light of the court’s decision after Grayscale’s victory. Addressing the issue, Garlinghouse said that Gensler and the SEC were forced to approve Bitcoin ETFs.

Earlier this month, Ripple announced the acquisition of Standard Custody and Trust Company, a New York-based digital asset platform. Ripple will gain sole ownership of Standard Custody upon completion of the acquisition. It will also provide the company with access to the platform’s remittance and trust card licenses to expand its collection of regulatory licenses.

Late last year, Ripple expanded its reach by acquiring Swiss blockchain company Metaco for $250 million. The proceeding symbolized the first step toward tokenization of assets, hinting at possible future expansion in this area.

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Łukasz Michałek
Łukasz Michałek
Founder of the rapidly developing cryptocurrency channel "Biblia Kryptowalut" on YouTube. He also co-creates the Arena Trading group with Marek. Łukasz is fascinated and passionate about blockchain technology and cryptocurrencies, which constitute the central element of his activity in the cryptocurrency industry.
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