In a revealing interview with Bloomberg, Ripple's CEO, Brad Garlinghouse, shares insights on the future of cryptocurrency investments, highlighting the inevitability of diverse ETFs, including those for XRP.
This move could revolutionize how investors approach the crypto market, offering diversified investment options akin to the early stock market days.
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Ripple CEO Brad Garlinghouse on the Future of Cryptocurrency ETFs
In an interview published on February 21, 2024, with Bloomberg, Ripple's CEO Brad Garlinghouse expressed his belief that the emergence of various ETFs (Exchange-Traded Funds) targeting different tokens is inevitable.
When asked about the possibility of an XRP ETF in the future, given the cryptocurrency industry's speculations, he responded that it's natural for other ETFs to exist.
He elaborated that, just like in the early stages of the stock market, investors would want to diversify their investments rather than focusing on a single stock.
Garlinghouse admitted that predicting when other cryptocurrency ETFs might appear is challenging but affirmed that he would welcome an XRP ETF.
Furthermore, he noted the inevitability of multiple ETFs' emergence and mentioned the potential for basket-type ETFs that allow for further diversification of risk.
Discussions on ETFs with BlackRock
A significant topic of discussion has been the unauthorized use of BlackRock's name in November last year by an unknown party who submitted ETF registration documents for an "iShares XRP Trust."
During the interview, when asked if there were discussions with ETF issuers like BlackRock towards realizing an XRP ETF, Garlinghouse chose not to comment.
However, he acknowledged being aware of certain public statements by BlackRock and commented that they believe it to be meaningful for the entire XRP community.
Although opinions among experts vary regarding the realization of an XRP ETF, a job listing on Ripple's website in January revealed that they are seeking to collaborate with their internal trading team and related partners to push forward initiatives related to cryptocurrency-related ETFs.
>> Read the latest XRP-related articles here.
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