Ripple President Foresees Imminent Approval of XRP ETF
A significant shift in the regulatory landscape may be on the horizon, according to Ripple President Monica Long. In a recent interview, Long expressed confidence that an XRP spot exchange-traded fund (ETF) will be approved “very soon,” following the recent greenlighting of Bitcoin and Ethereum ETFs.
A Broader Investor Base Ahead
Long’s comments suggest that the XRP ETF will open up the cryptocurrency to a wider range of investors, potentially sparking a wave of institutional investment. This development could mark a major milestone for the asset, further solidifying its position in the market.
Regulatory Environment Shifts
Long attributes the anticipated acceleration of crypto ETF approvals to changes in regulatory policy. Her comment indicates that shifts in administration and the approval of filings have created a more favorable environment for crypto ETFs. Several companies, including Canary, have already filed for XRP spot ETFs, further bolstering her confidence in their approval.
Growth in Payment Solutions and Stablecoins
In addition to her comments on the XRP ETF, Long discussed the growth in Ripple’s payment solutions and the increasing demand for stable coins. She revealed that Ripple’s business in payment solutions doubled last year and anticipates a strong growth trajectory. Long also highlighted the critical role of stablecoins, stating that they act as a key asset in trading and are essential for on-ramping and off-ramping.
Expanding Availability of Ripple USD
Long also spoke about expanding the availability of Ripple USD on exchanges, with plans to announce more distributions and partnerships soon. When asked about major platforms like Coinbase, she confirmed that Ripple is continuing to expand its reach, with imminent announcements expected.
A Bright Future Ahead
With the potential approval of an XRP ETF on the horizon, Long expressed optimism about the market’s growth prospects. “We think that the market is going to grow tremendously over the course of the next year,” she added. As the regulatory landscape continues to evolve, it will be interesting to see how this development unfolds.
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