Ripple President Monica Long suggested an XRP ETF could follow Bitcoin and Ether, citing potential acceleration in U.S. approvals under new administration.
Focus on XRP ETF
In a Tuesday interview with Bloomberg, Monica Long, President of Ripple, said that an XRP exchange-traded fund (ETF) might happen soon because good crypto laws in the U.S. could help American businesses a lot.
Long said, “I think that we will see more spot ETFs this year coming out of the U.S., and I think XRP is likely to be next in line after bitcoin and ether. We think, especially with the administration change, the approvals of those filings will accelerate.”
Long also said that Ripple’s new RLUSD stablecoin will be available on more markets, and the company thinks it will be a big part of how it handles money and payments.
The New York Department of Financial Services oversees RLUSD and makes sure that it follows strict financial rules through its strict framework. To make blockchains more useful, RLUSD recently added the Chainlink standard to make it easier for decentralized finance (defi) systems to work together.
Bitwise, Canary Capital, WisdomTree, and 21Shares are just a few of the asset management companies that have separately filed to offer XRP ETFs. Still, a choice has not yet been made.
