Ripple CEO Discusses BlackRock XRP ETF as Speculation Heats Up

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Coinedition2024/02/21 14:46

By:Abdulkarim Abdulwahab

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Ripple’s Brad Garlinghouse says expecting other ETFs like XRP is reasonable.
Garlinghouse argued that more crypto ETFs would make the market safer.
BlackRock launching an XRP ETF “makes sense for the XRP Army,” according to Ripple’s CEO.

Ripple’s CEO, Brad Garlinghouse, has commented on the prospect of BlackRock launching an XRP exchange-traded fund (ETF). On February 20, Bloomberg interviewed Garlinghouse, inquiring about the prospects of an XRP ETF given the growing speculation since the approval of the first cryptocurrency spot ETFs for Bitcoin .

In response, Ripple’s CEO remarked that expecting additional ETFs following Bitcoin’s precedent is reasonable. He drew parallels to the early days of the stock market, where investors sought diversified exposure to companies to minimize risk.

Specifically, Ripple’s CEO remarked: “I think we will see other ETFs. It makes these markets safer.” Altcoin Daily recently shared a snippet of Garlinghouse’s statement with the crypto community on X.

Is a Blackrock $XRP ETF next? 🤔 pic.twitter.com/WdlfFgM2eZ
— Altcoin Daily (@AltcoinDailyio) February 20, 2024

Furthermore, the Bloomberg journalist inquired whether Ripple would itself embrace an XRP ETF , to which Ripple’s CEO responded positively. Moreover, he emphasized that XRP ETFs are inevitable, noting the likelihood baskets of crypto ETFs.

Based on this notion, the journalist asked whether Ripple was in talks with prominent issuers such as BlackRock regarding the potential launch of an XRP ETF. While refraining from giving a direct yes or no answer, Garlinghouse noted such a move would be fruitful for the XRP community.

In Garlinghouse’s words, “I’m not going to comment on that. I know BlackRock has said some things publicly. We think it makes sense for the XRP community overall.”

Notably, the Ripple CEO voiced caution regarding forecasting the precise timeline for the introduction of an XRP ETF. He elaborated on this stance by underscoring that it required a court decision to prompt the SEC to approve Bitcoin spot ETFs.

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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.

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