Brad Garlinghouse, the Chief Executive Officer of U.S. crypto payment firm Ripple, has shared his thoughts on the possibility of an XRP spot exchange-traded fund (ETF).
Garlinghouse commented on the prospect of an XRP ETF while speaking with CNBC at the World Economic Forum. Specifically, when asked about the likelihood of additional cryptocurrency ETFs, Garlinghouse expressed confidence, stating:
“I think it’s a certainty. I’m not going to put a horizon on the time, but I think there will be other ETFs for sure.”
However, when directly questioned about the possibility of an XRP ETF, Garlinghouse beamed, hesitating to provide a definitive answer. Instead, he remarked, “There will be other ETFs for sure.”
The CNBC host pressed further for an absolute response. Yet, Garlinghouse chuckled and avoided providing a definitive answer, leaving the possibility open for speculation. The Ripple CEO’s cautious approach has caught the crypto community’s attention.
Similar Neutral Response
Prominent X user “Digital Asset Investor” drew parallels between Garlinghouse’s reply and the statement of BlackRock’s CEO concerning the subject.
“Larry Fink is not the only one who can’t talk about an XRP ETF,” he remarked.
Larry Fink is not the only one who can't talk about an XRP ETF ??? pic.twitter.com/iDVhrICErD
— Digital Asset Investor (@digitalassetbuy) January 16, 2024
As the pro-XRP crypto influencer rightly pointed out, BlackRock’s CEO Larry Fink declined to give an absolute answer when specifically asked about the likelihood of his firm seeking an XRP spot ETF. Like Ripple’s CEO, he responded, “I can’t talk about that.”
Larry Fink’s comment garnered a positive reception from the XRP community, with members interpreting his neither affirmative nor negative stance as a potential signal for consideration.
The Thinking Crypto podcaster Tony Edward argued that Fink’s neutral reaction might be intentional to avoid market volatility, as providing a precise yes or no could trigger movements in the XRP market.
Contrastingly, FOX’s senior correspondent Charles Gasparino claimed Larry Fink’s response was due to his limited awareness of XRP as a cryptocurrency.
Something to keep in mind about my question to Larry Fink about starting an $XRP ETF and his non comital answer; Larry barely knows that $XRP exists as a crypto currency. He's just a little more fluent in $ETH's status in the crypto ecosystem. That might soon change, but dont…
— Charles Gasparino (@CGasparino) January 13, 2024
Gasparino advised caution in reading too much into Fink’s non-committal answer. Moreover, he suggested that Fink’s understanding of XRP may evolve, but his current response should not be overinterpreted.
Nonetheless, certain influential figures within the XRP community hold the perspective that an XRP exchange-traded fund is inconsequential. They believe crypto ETFs are distractions or avenues for institutional corruption.