During an interview with Bloomberg Crypto, Ripple CEO Brad Garlinghouse ignited speculation regarding a potential XRP exchange-traded fund (ETF). Good Morning Crypto (@3TGMCrypto), a prominent XRP crypto personality, shared a clip of the interview on X.
While not directly confirming collaboration with BlackRock, Garlinghouse said, “We think it makes sense for the XRP community overall. Ripple obviously is a very important stakeholder in the XRP ecosystem, but we’re not the only player.”
Read Also: Here Is Likely Timeline For XRP Spot ETF
Ripple CEO’s statement has sparked significant discussion within the cryptocurrency space about a potential XRP ETF and BlackRock’s involvement.
On the possibility of an XRP ETF in the United States, Garlinghouse remarked, “We would certainly welcome it.” This statement has fueled speculation about Ripple’s involvement in making the anticipated development happen.
However, Garlinghouse was careful not to confirm any concrete plans or partnerships. He clarified, “I’m not going to comment on that. I know BlackRock has said some things publicly,” potentially referring to the BlackRock CEO speaking on an XRP ETF last month.
Garlinghouse also spoke briefly on Ripple’s ongoing lawsuit with the Securities and Exchange Commission (SEC), which has cast a shadow over XRP’s regulatory status. He pointed out that XRP was the third most valuable digital asset before the lawsuit, but the lawsuit stifled its growth.
However, Garlinghouse expressed confidence in the company’s position and hinted at positive developments in the future. His long-term plan is to provide utility for XRP and solutions to real-world problems.
BlackRock, the world’s largest asset manager, has previously explored the possibility of offering crypto-related products. However, in November 2023, the firm confirmed a leaked document suggesting an XRP ETF was fake. Currently, no XRP ETF exists in the US, although similar products like Exchange-Traded Cryptocurrencies (ETCs) are available in other markets.
The possibility of an XRP ETF entering the U.S. market holds significant implications for the cryptocurrency’s future. An ETF would offer investors a regulated and potentially more accessible way to gain exposure to XRP, potentially boosting its adoption and liquidity.
Read Also: Top Crypto Figure Predicts When Blackrock Will File For An XRP ETF
However, regulatory hurdles remain, particularly the ongoing SEC lawsuit against Ripple. A favorable end to the lawsuit could pave the way for an ETF, while an unfavorable outcome could further delay its development.
While Garlinghouse’s comments have ignited speculation, it is crucial to remember that no concrete evidence exists regarding Ripple’s involvement in an XRP ETF or its potential partnership with BlackRock.
Although a notable journalist reported last month that BlackRock had no concrete plans to file for an XRP ETF, much can change in a month in the financial world.
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