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Ripple President Monica Long, in a recent interview with CNBC, endorsed the idea of an XRP exchange-traded fund (ETF), citing the regulatory clarity both XRP and Bitcoin hold in the U.S. Long emphasized XRP’s consistent presence in the top 10 assets by market cap and its high daily traded volume, supporting the potential for increased institutional interest in cryptocurrency.
Following suit, Ripple CEO Brad Garlinghouse suggested the inevitability of a spot XRP ETF, pointing out that diversifying ETF offerings with altcoins, including the anticipated success of Ethereum ETFs, aligns with investor preferences to mitigate risk across a single coin. This strategic direction hints at a broader acceptance and integration of digital assets in traditional investment portfolios.
Expanding its ecosystem, Ripple is set to introduce a stablecoin by the end of 2024, aiming to tap into the stablecoin market projected to reach a $3 trillion market cap within five years. This move positions Ripple to leverage the growing demand for stablecoins, particularly for payments and as a bridge asset even after the stablecoin’s launch, promising a robust expansion in global crypto-financial services.
