The possibility of a BlackRock XRP ETF has been the subject of much speculation; however, Ripple CEO Brad Garlinghouse has expressed optimism about its introduction in the near future.
In a recent interview with Bloomberg, Garlinghouse alluded to the recent approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission and discussed the potential for XRP ETFs. In his words,
“given the precedent set by the approval of the first Bitcoin spot ETF, it’s understandable that people are expecting more ETFs in the future”.
He noted that the emergence of XRP ETFs is inevitable, adding that he also expects to see baskets of crypto ETFs in the future. According to Garlinghouse, the situation is similar to the early days of the stock market, when investors sought diversified exposure to companies to minimize risk.
“I think we will see other ETFs. It makes these markets safer”,
Garlinghouse stated.
Garlinghouse was asked if Ripple is currently in talks with major ETF issuers like BlackRock about the potential launch of an XRP ETF. While Garlinghouse didn’t give a definite answer, he suggested that such a move could be beneficial for the XRP community. Without revealing any confidential information, he hinted that Ripple is working on ways to make XRP more accessible to investors.
Garlinghouse acknowledged that there are many factors that could affect the timeline for an XRP ETF, including decisions by the SEC and the courts. He emphasized that it’s not possible to predict exactly when an XRP ETF will be approved, but he remains optimistic about it.
Rumors about an XRP ETF emerged last November with the circulation of a fake document online, falsely claiming that BlackRock had filed for an XRP ETF. BlackRock promptly refuted the rumours, confirming that it had no such plans.
As of now, there is no XRP ETF available for U.S. investors, although some exchange-traded products (ETPs) in Europe, such as those offered by Coinshares and 21Shares, share similarities with an ETF.
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