- Brad Garlinghouse in a conversation with the media supported the idea of issuing an XRP-ETF.
- However, he declined to comment on possible negotiations with exchange-traded fund providers.
CEO of Ripple Labs Brad Garlinghouse supported the idea of launching new cryptocurrency exchange-traded funds, including XRP-ETF. According to him, this would allow investors to diversify their risks.
“It makes sense in case there will be other cryptocurrency ETFs. The current situation can be compared to the formation of the stock market. Investors don’t want to invest in one stock, one company,” Garlinghouse said.
CEO of Ripple Labs repeated the thesis that he said earlier – new cryptocurrency ETFs will appear on the market.
Recall, in January 2024 Garlinghouse noted that spot exchange-traded funds based on bitcoin appeared solely due to the intervention of the court, and this is unacceptable in the context of similar products.
At the same time, 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, would benefit the XRP community.
Rumors of a new class of exchange-traded fund launch emerged in November 2023 amid a fake bid by 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 such a fund class seems unlikely in the near future. As with Ethereum, one of the main obstacles is the legal status of the asset.
