Ripple President Monica Long Discusses Potential 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 change in the SEC’s stance indicate a potential for more cryptocurrencies, including XRP, to receive ETFs.
– XRP’s significant trading volume and market cap suggest strong investor interest in an XRP ETF.
Is an XRP ETF on the horizon?
Monica Long, President of Ripple, is a strong advocate for the potential of XRP in today’s market. Her positive outlook is echoed by CEO Brad Garlinghouse, who has forecasted the introduction of a spot XRP ETF by 2025.
Could the recent discussions at the influential Consensus 2024 conference be the catalyst XRP needs to make a breakthrough?
Delve deeper into the reasons behind Ripple’s optimism about an XRP ETF and its potential implications for the cryptocurrency’s future.
Garlinghouse’s Bold Prediction
At Consensus 2024, Garlinghouse confidently predicted the emergence of XRP ETFs and similar financial products for cryptocurrencies like Solana and Cardano. He emphasized the inevitability of these developments as the crypto market matures and gains wider acceptance.
Changing Regulations
Recent shifts in the ETF landscape include the SEC’s approval of Ethereum spot ETFs. Cathie Wood, CEO of ARK Invest, highlighted at Consensus 2024 how political factors have turned crypto into an election issue, shaping regulatory decisions.
This change became apparent when SEC Chair Gray Gensler, previously cautious about crypto ETFs, adopted a more open stance towards the upcoming ETH ETF launch. Gensler’s shift followed a ruling in favor of Grayscale against the SEC, prompting a reevaluation of the regulator’s position on crypto ETFs.
XRP’s Market Position
XRP currently ranks as the eighth-largest cryptocurrency by market cap, valued at $29.1 billion, with a daily trading volume of around $917.5 million. These figures underscore the significant 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 promising for cryptocurrency ETFs.
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