BlackRock CEO Larry Fink’s hint at the possibility of an XRP exchange-traded fund (ETF) has revived the hopes of the XRP community in their beloved token.
In a recent interview with FOX Business, Fink, the head of the world’s largest asset manager, didn’t definitively rule out the idea when asked about an XRP ETF.
Charles Gasparino, the man who interviewed Fink, shared quotes from the interview on X. Fink’s comments, in the wake of the landmark approval of the first-ever Bitcoin spot ETF in the US, which sparked speculation about XRP’s future integration into mainstream investment vehicles.
🚨NEW: Here are some key quotes from my interview with @BlackRock CEO Larry Fink on the economy, @BillAckman and the $BTC Spot ETFs.
🚨"The economy is in a very good position and will get stronger."
🚨"I believe I could have been more literate when I was talking about ESG .I…
— Charles Gasparino (@CGasparino) January 12, 2024
An Impending XRP ETF
When asked if BlackRock would apply for an XRP ETF, Fink said, “I can’t talk about that.” The mere fact that Fink didn’t dismiss the notion outright was seen as a positive development by XRP enthusiasts.
While he stopped short of committing to concrete plans, his acknowledgment fueled hopes that the digital asset could eventually land a coveted spot within BlackRock’s ETF offerings.
This optimism was further bolstered by Tony Edward, host of the Thinking Crypto podcast, who commended Fink’s cautious approach, explaining that a definitive statement, either positive or negative, could trigger significant market fluctuations.
A Divided Community
However, not everyone within the XRP community shares the same enthusiasm for an ETF. Versan Aljarrah, the founder of Black Swan Capitalist, believes that focusing on an ETF detracts from XRP’s core purpose as a functional currency.
He argues that crypto spot ETFs, in general, can act as distractions, potentially opening the door to “institutional corruption.” Aljarrah emphasizes that XRP is designed for real-world use cases, such as facilitating cross-border payments, rather than simply tracking the price of an asset.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
More Potential XRP ETF Applications
Steve McClurg, the Chief Investment Officer at Valkyrie, a prominent company in the crypto world, recently shared his belief that XRP ETFs are coming. Although he didn’t confirm if Valkyrie has thrown their hat in the race, the door is not closed for the company either.
The debate surrounding an XRP ETF is increasing rapidly as more companies show interest. While some see an XRP ETF as a crucial step towards wider adoption, others remain wary of the potential pitfalls involved. One of the top influencers in the crypto world recently predicted when BlackRock would apply for an XRP ETF. However, only time will tell if BlackRock decides to take the plunge.
Follow us on Twitter, Facebook, Telegram, and Google News
