Ripple CEO welcomes XRP ETF, says other crypto products will follow

Ripple CEO Brad Garlinghouse expressed his support for an XRP exchange-traded fund (ETF) in an interview with Bloomberg on Feb. 20. He said that Ripple would “certainly welcome” such a product, but did not reveal any specific plans to launch one.

An XRP ETF would allow investors to gain exposure to the price movements of XRP, the native cryptocurrency of the Ripple network, without having to buy or store the tokens themselves. XRP is currently the fourth-largest cryptocurrency by market capitalization, according to CoinMarketCap.

Garlinghouse declined to comment on whether Ripple is in talks with any asset managers, such as BlackRock, to issue an XRP ETF. He said that BlackRock has made some public statements on the matter, but he did not elaborate. He added that Ripple is not the only stakeholder in the XRP ecosystem, and that the company thinks an XRP ETF would benefit the whole community.

Ripple CEO Brad Garlinghouse

In November 2023, a document purportedly showing that BlackRock was filing for an XRP ETF circulated online, sparking excitement among XRP fans. However, the asset manager soon confirmed that the document was fake and that it had no plans to launch such a product.

As of now, there is no XRP ETF available in the US market. However, some European firms, such as Coinshares and 21Shares, offer XRP exchange-traded products (ETP), which are similar to ETFs but have some regulatory differences.

Garlinghouse also predicted that other crypto products will emerge in the future, as the industry matures and diversifies. He compared the current situation to the early days of the stock market, when investors did not want to put all their money in one company or sector. He said that it makes sense to have more options for crypto investors, such as ETFs that track multiple cryptocurrencies or sectors.

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