In a landmark event at Paris Blockchain Week, held April 9-11, a thought-provoking revelation emerged from the dialogue between Brad Garlinghouse, CEO of Ripple, and David Bchiri, CEO of Xrpl Commons. The focus was firmly on the future of XRP and its position in the cryptocurrency market, with a special emphasis on the potential for an Exchange Traded Fund (ETF) in the United States.
During the conference, Garlinghouse expressed a balanced view on cryptocurrency investments, advising diversification as the key to a healthy portfolio. “When friends of mine ask me, hey, I want to invest in crypto, how should I do that? I always say to invest in a basket. I'm not saying just buy Bitcoin or just XRP. I’m saying you want to invest in a basket and have diversification,” he shared, underlining the importance of not limiting yourself to a single cryptocurrency.
Regulatory clarity in the United States has placed XRP in a unique position, comparable only to Bitcoin. This clarity, according to Garlinghouse, is fundamental to the future development of financial products, such as ETFs. “So look, I think there will be other ETFs [on spot in the US]. Unfortunately, I think it will take a while because the SEC of the United States is struggling with this,” he commented, revealing an optimistic expectation despite regulatory challenges.
Additionally, Garlinghouse announced ambitious plans to launch a US dollar-backed stablecoin later this year, aiming to bolster Ripple's presence in the digital payments sector and adhere to existing regulations. This strategy signals a continued effort by Ripple to expand its range of services, effectively responding to market demands.
Previously, in a conversation with “Bloomberg Crypto”, Garlinghouse’s enthusiasm for an XRP ETF was evident. He sees this as a natural progression in the cryptocurrency investment space, paralleling the importance of diversification in the early days of the stock market. “I think it makes sense,” he stated, advocating the development of cryptocurrency ETFs as a measure to increase the safety and soundness of the market, benefiting the entire investment community.
While cautious about specific discussions, Garlinghouse acknowledged the importance of financial products like ETFs to the ecosystem and expressed strong support for the idea of an XRP ETF. “We would certainly welcome him. I think it’s inevitable that there will be multiple ETFs around different tokens,” he concluded, highlighting continued optimism regarding XRP’s future in the market.
At the time of publication, XRP was trading at $0,5837, highlighting its stable position in the cryptocurrency market.
👑‼️ JUST IN ➡️ BRAD GARLINGHOUSE AT THE PARIS BLOCKCHAIN WEEK ON A POTENTIAL #XRP #ETFs➡️ "PEOPLE DON´T FULLY UNDERSTAND, THEY HAVEN´T REALLY PAID ATTENTION TO: IN THE UNITED STATES, THERE´S ONLY TWO CRYPTOS THAT HAVE REGULATORY CLARITY ➡️ BITCOIN AND BECAUSE OF THE FIGHT WE HAD… https://t.co/psB4wgntsE pic.twitter.com/DHaE90Dl2r
—XRP DROPZ (@DROPZXRP) April 9, 2024
