Ripple CEO Says XRP ETF ‘Inevitable’ – Deal 2024
In an interview at Consensus 2024, Ripple CEO Brad Garlinghouse said that an XRP exchange-traded fund (ETF) was inevitable and that it was only a matter of time before many other crypto-assets were approved for similar funding.
Garlinghouse recently expressed optimism that the crypto market is heading toward a $5 trillion valuation thanks to the recent approval of spot Bitcoin (BTC) and Ether (ETH) ETFs in the United States.
Ripple's CEO reiterated his belief that there could be many different project initiatives and winners in the crypto space, each choosing to focus on different areas of the rapidly expanding decentralized finance and digital asset industries.
RELATED: Sorry XRP Army: Spot XRP ETF ‘Not Happening Anytime Soon', Says Analysts
BlackRock's Larry Fink asked about the possibility of an XRP ETF
In the year In an interview with Fox Business in early 2024, BlackRock CEO Larry Fink was pressed about the XRP ETF from the world's largest asset management firm.
When asked if the $10 trillion asset manager could bring an XRP ETF to market, Fink responded by saying he could not discuss the matter.
While Fink's answer was far from conclusive, it did manage to spark speculation in the XRP community that BlackRock might have an XRP ETF in the works.
Crypto ETFs: Why Are They Important?
Crypto ETFs are useful because they allow investors, especially institutional investors, to gain exposure to cryptocurrencies and digital assets without directly owning these assets.
Digital assets, while revolutionary, are a relatively new and less technical asset class—there is a learning curve when it comes to owning, trading, inventing, and trading digital assets that present challenges for traditional investors.
Even something as simple as sending bitcoins from one address to another can be difficult for those accustomed to the well-established trading of stock exchanges, bond markets, and real estate.
Moreover, the lack of transparency of sustainability in the United States acts as a barrier to institutions and individuals entering the emerging digital asset market.
The advent of highly regulated ETFs can help alleviate both issues for the apprehensive investor by providing a simple and controlled way without having to deal with any technical knowledge of digital asset management.
Magazine: What do crypto market makers do? Liquidity, or fraud.
