United

when

Standard

Brad Garlinghouse, CEO of Ripple, said in an interview with Bloomberg that the company would “welcome” an exchange-traded fund (ETF) based on the XRP (<a href="https://cointelegraph.com/xrp-price-index">XRP</a>) token.&nbsp;
On Feb. 20, Garlinghouse <a href="https://www.youtube.com/watch?v=Jr660yDZlHU" target="_blank" rel="noopener nofollow">shared</a> the company’s stance on a potential XRP ETF. The CEO highlighted that they “would certainly welcome it.” The executive also said that it is inevitable that there will be multiple ETFs around different tokens. Furthermore, Garlinghouse also predicted that the space would see ETFs around baskets, which the executive believes will “diversify the risks” for investors. 
The CEO said that “it only makes sense” to have other ETFs. He even compared the current situation with the spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) ETFs to the early days of the stock market. Garlinghouse believes that investors do not want to be exposed to a single stock only but want to diversify their investments. 
When asked if Ripple is currently in talks with the ETF issuers, the CEO refused to comment. However, Garlinghouse reiterated the company’s position: “We think it makes sense for the XRP community overall.” 
The Ripple executive also spoke about the “long-term view.” According to Garlinghouse, digital assets are all about creating utility and solving real-world problems. He explained that Bitcoin&nbsp;has done this well as a store of value. On the other hand, Garlinghouse argued that XRP is “ideal for payments.”
Related: <a href="https://cointelegraph.com/news/jupiter-compliance-investment-ripple-xrp-etp">Jupiter’s compliance division revokes investment in Ripple XRP ETP: Report</a>
Apart from the potential of an XRP ETF, Garlinghouse commented on Ripple’s recent <a href="https://cointelegraph.com/news/ripple-acquires-standard-custody-trust-second-custody-provider">acquisition of Standard Custody &amp; Trust</a>. On Feb. 13, the firm acquired the United States-based digital asset custody provider. The company is a qualified custodian in accordance with federal legislation and offers custody and escrow services under a charter granted by the New York State Department of Financial Services. 
Garlinghouse said custody is one of the basic building blocks around crypto that would make it successful. He explained that institutions need to be able to custody their own digital assets and their customers’ crypto as well. The Ripple CEO said that Standard Custody &amp; Trust’s license is an important part of their push for a “compliance first” mindset. 
Magazine: <a href="https://cointelegraph.com/magazine/xrp-is-not-a-security-celsius-ceo-arrested-on-criminal-charges-hodlers-digest-july-9-15/">XRP is not a security, Celsius CEO arrested on criminal charges, and more: Hodler’s Digest</a>

Ripple ‘would certainly welcome’ an XRP ETF: Brad Garlinghouse

Cointelegraph

Other articles published on Feb 21, 2024

Next Crypto to Hit $1 in 2024: Top 7 Picks

Adobe Introduces AI Assistant to Revolutionize PDF Experience

Crypto fans follow Ethereum and USDC traders who are exploring DeeStream

Bitcoin Exchange OKX Announced That It Listed This Altcoin On Its Spot Trading Platform!

Polygon Revolutionizes Identity Verification with Palm Recognition Technology

Popular Market Maker DWF Labs Announces Investment in a New Altcoin! There was a sudden increase ...

Join our free newsletter for daily crypto updates!