Ripple President Monica Long has argued that it is sensible for an asset management firm to launch a spot XRP ETF in the U.S. market.
Long expressed this view during an interview on Tuesday. She highlighted that it is logical to expect an application for an XRP spot exchange-traded fund (ETF) as the asset checks major boxes for such an investment product. Specifically, the Ripple president pinpointed five factors why XRP deserves an ETF.
Factors Making XRP ETF Sensible
First, Long noted that XRP is among the most prominent crypto assets, having traded in the top 10 for almost its entire existence. Currently, XRP ranks as the seventh most valuable cryptocurrency, with a valuation of over $25 billion. Among risk assets, XRP trails only Bitcoin, Ethereum, BNB, and Solana.
Furthermore, the Ripple executive noted that XRP is one of the most heavily traded assets, pointing to the vast market for which XRP is available. XRP is listed and tradable on over 100 crypto exchanges, including major U.S. platforms like Coinbase, Kraken, and Uphold.
Moreover, Long highlighted that the most crucial factor warranting an ETF for XRP is the July 2023 court ruling, which clarified that XRP itself is not a security. She emphasized that XRP and Bitcoin are the only two crypto assets in the United States with clear regulatory status.
Given these factors, Long expressed optimism about the potential for an XRP spot ETF to surface following the successful approval of Bitcoin and Ethereum ETFs.
XRP Army Reacts
Amid the bullish sentiment from Ripple’s president, Abdullah Nassif, the Good Morning Crypto podcast host, polled community members about the likelihood of an XRP ETF launching this year. Most respondents answered affirmatively.
💥💥 @Ripple President – $XRP ETF 💥💥
"It Would Be Very Sensible For Someone To Launch An #XRP ETF” – @MonicaLongSF
“Because Of The Court Ruling Last Year, XRP & #Bitcoin Are The Only 2 Assets In The United States With Clarity From The Government.” 💥🚀
Will An XRP ETF Be… pic.twitter.com/JCOKHVKFeO
— Good Morning Crypto (@AbsGMCrypto) June 26, 2024
XRP ETF Timeline
Notably, other Ripple executives, including CEO Brad Garlinghouse, have echoed similar sentiments. During an interview with Bloomberg in February, Garlinghouse said an XRP ETF makes sense for the XRP ecosystem. In a subsequent commentary, he projected a 2025 timeline for the launch of an XRP spot ETF.
Meanwhile, other industry leaders, such as Nate Geraci, president of The ETF Store, and Bloomberg analyst James Seyffart, do not believe the crypto industry is prepared to welcome an XRP ETF soon. Seyffart argued the earliest would be a 2026 launch.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
