Ripple Labs CEO supported the idea of creating an XRP-ETF

  • Brad Garlinghouse, in a conversation with the media, supported the idea of issuing an XRP-ETF.
  • However, he refused to comment on possible negotiations with exchange-traded fund providers.

Ripple Labs CEO Brad Garlinghouse supported the idea of launching new cryptocurrency exchange-traded funds, including XRP-ETF. According to him, this will allow investors to diversify risks.

“It makes sense if there are other crypto ETFs.”. The current situation can be compared with the formation of the stock market. Investors don’t want to invest in one stock, one company,” Garlinghouse said.

The CEO of Ripple Labs repeated the thesis he said earlier – new cryptocurrency ETFs will appear on the market.

Let us recall that in January 2024, Garlinghouse noted that Bitcoin-based spot exchange-traded funds appeared solely due to the intervention of the court, and this is unacceptable in the context of similar products.

However, the head of the company refused to comment on possible negotiations between Ripple Labs and ETF providers.. He stated that the launch of such a fund, if such a thing ever happens, will benefit the XRP community.

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Rumors about the launch of a new class of exchange-traded funds appeared in November 2023 amid a fake application from BlackRock.

In January 2024, the provider reiterated that it was not considering an XRP ETF, at least in the short term.

Experts believe that approval of this class of funds in the near future is unlikely. As with Ethereum, one of the main obstacles is the legal status of the asset.