Ripple President Monica Long Discusses Possibility of XRP ETF Launch
Key Points
– Ripple President Monica Long and CEO Brad Garlinghouse are optimistic about the possibility of an XRP ETF.
– Recent approval of Ethereum ETFs and a changing stance from the SEC suggest a potential for more cryptocurrencies, including XRP, to have ETFs.
– XRP’s significant trading volume and market cap indicate strong investor interest in an XRP ETF.
Is an XRP ETF on the horizon?
Monica Long, President of Ripple, is a staunch supporter of the idea, recognizing its potential in the current market landscape. Her positive outlook is echoed by CEO Brad Garlinghouse, who has projected the introduction of an XRP ETF by 2025.
Following discussions at the influential Consensus 2024 event, could this be the pivotal moment for XRP?
Delve deeper into why Ripple is so enthusiastic about an XRP ETF and the implications it could have on the cryptocurrency’s future.
Garlinghouse’s Bold Prediction
During Consensus 2024, Garlinghouse confidently forecasted the emergence of XRP ETFs and similar financial products for other cryptocurrencies like Solana and Cardano. He emphasized the inevitability of these developments as the crypto market matures and gains wider acceptance.
Regulatory Changes
Recent shifts in the ETF landscape include the SEC’s green light for Ethereum spot ETFs.
Cathie Wood, CEO of ARK Invest, pointed out at Consensus 2024 how political factors have made crypto a focal point in elections, influencing regulatory decisions.
This change was evident when SEC Chair Gray Gensler, previously hesitant about crypto ETFs, adopted a more lenient stance towards the upcoming ETH ETF launch. Gensler’s shift came after a ruling in favor of Grayscale against the SEC, prompting a reevaluation of the regulator’s position on crypto ETFs.
XRP’s Market Standing
As the eighth-largest cryptocurrency by market cap, XRP is valued at $29.1 billion, with a daily trading volume of around $917.5 million. These figures underscore the considerable interest and trading activity surrounding XRP, hinting at the potential impact of an ETF on its market dynamics.
With Ripple’s leadership backing an XRP ETF and regulatory attitudes evolving, the outlook appears bright for cryptocurrency ETFs.
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Tags: Ripple (XRP)