Ripple President Monica Long Discusses Possibility of XRP ETF
Key Points
– Ripple’s President Monica Long and CEO Brad Garlinghouse are optimistic about the possibility of an XRP ETF.
– Recent approval of Ethereum ETFs and a change in the SEC’s attitude towards cryptocurrencies hint at a potential XRP ETF.
– XRP’s significant trading volume and market cap indicate strong investor interest in an XRP ETF.
– The outlook for an XRP ETF is positive, with Ripple’s leadership pushing for its creation.
Could an XRP ETF be on the horizon? Ripple’s President, Monica Long, is a vocal supporter, touting its potential in today’s market. Her positive outlook is echoed by CEO Brad Garlinghouse, who has forecasted the launch of an XRP ETF by 2025.
Following discussions at the influential Consensus 2024 conference, could this be the breakthrough moment for XRP? Delve deeper into the reasons behind Ripple’s enthusiasm for an XRP ETF and the implications it could have for the cryptocurrency’s future.
Garlinghouse’s bold prediction at Consensus 2024 included the introduction of XRP ETFs and other financial products for cryptocurrencies like Solana and Cardano. He emphasized the inevitability of these developments as the cryptocurrency market matures and gains broader acceptance.
Recent shifts in regulations have seen the approval of Ethereum spot ETFs by the US Securities and Exchange Commission (SEC). Cathie Wood, CEO of ARK Invest, pointed out at Consensus 2024 how political factors have turned cryptocurrencies into an election issue, influencing regulatory decisions.
This change in approach was evident when SEC Chair Gray Gensler, previously cautious about crypto ETFs, adopted a more relaxed stance towards the impending ETH ETF launch. This shift followed a ruling in favor of Grayscale against the SEC, prompting a reassessment of the regulator’s position on cryptocurrency ETFs.
XRP currently holds the position of the eighth-largest cryptocurrency by market cap, valued at $29.1 billion, with a 24-hour trading volume of around $917.5 million. These figures underscore the significant interest and trading activity surrounding XRP, indicating the potential impact of an ETF on its market dynamics.
With Ripple’s leadership backing an XRP ETF and regulatory attitudes evolving, the future looks bright for cryptocurrency ETFs.
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