Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Ripple CEO Says Firm is Open to Welcoming a Spot XRP ETF

Ripple CEO Says Firm is Open to Welcoming a Spot XRP ETF

CryptopotatoCryptopotato2024/02/21 18:46
By:Mandy WilliamsMore posts by this author

Garlinghouse believes there would eventually be other funds to diversify the risk from spot Bitcoin ETFs, but the time of their launch would be difficult to predict.

Brad Garlinghouse, the CEO of financial technology company Ripple Labs, has disclosed that the crypto solutions provider and developer of the Ripple payment protocol would welcome a spot exchange-traded fund (ETF) for the network’s native token, XRP.

Ripple to Welcome Spot XRP ETF

Speaking on his thoughts about the current state of the crypto industry in a Bloomberg interview , Garlinghouse chipped in that creating multiple ETFs around different tokens is inevitable as they would further diversify the risk of trading such investment vehicles. He added that some firms may even launch basket ETFs, containing a collection of multiple crypto assets.

Likening the condition of the crypto ETF space to the earliest days of the stock market, the Ripple CEO explained that investors would not want exposure to just one stock or company, as they would prefer to diversify their risks and portfolio. For this purpose, there would eventually be other funds to diversify the risk from spot Bitcoin ETFs . However, the time of their launch would be difficult to predict.

“You know, the sad reality of what we saw with the Bitcoin ETF is it was only because the court forced the SEC’s hand and really chair Gensler’s hand that we saw that finally come to fruition. And look, in my opinion, it makes these markets safer; it makes them more robust. And so, this is good for the investment community,” Garlinghouse said.

BlackRock’s Face XRP ETF Application

In response to a question about discussions with asset manager BlackRock over the launch of a spot XRP ETF, Garlinghouse declined to comment.

“I know BlackRock has said some things publicly. We think it makes sense for the XRP community overall. Ripple obviously is a very important stakeholder in the XRP ecosystem, but we’re not the only player,” the exec stated.

Talks about a potential spot XRP ETF have been surrounded by dramatic events like the fake filing for the fund in Delaware. News broke in November that BlackRock registered a spot XRP ETF in Delaware shortly after applying for its Ethereum Trust. The news was eventually deemed false, and the case was handed to appropriate authorities.

Meanwhile, some analysts think there is little chance that an XRP ETF will be approved soon as Ripple is still entangled in a lawsuit with the US Securities and Exchange Commission.

You Might Also Like:

  • Ripple Considers IPO Outside US Amid 'Hostile' SEC Environment, Says CEO
  • Here's What Ripple (XRP) CEO Had to Say About the Bitcoin ETFs
  • XRP Ledger (XRPL) Activity: Messari Report Reveals $169M Market Cap Surge
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

This Thanksgiving, we are grateful for bitcoin returning to $90,000.

BlockBeats2025/11/28 08:43
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.

区块链骑士2025/11/28 08:23
Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

What are the privacy messaging apps Session and SimpleX donated by Vitalik?

Why did Vitalik take action? From content encryption to metadata privacy.

ForesightNews 速递2025/11/28 08:23
What are the privacy messaging apps Session and SimpleX donated by Vitalik?

The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun

The attacker incurred a loss of 3 million in a "suicidal" attack, but may have achieved breakeven through external hedging. This appears more like a low-cost "stress test" targeting the protocol's defensive capabilities.

ForesightNews 速递2025/11/28 08:23
The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun