New Era

Future

Standard

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Brad Garlinghouse, Ripple’s CEO, welcomes the idea of an exchange-traded fund (ETF) based on the XRP token.</li> 
 <li>Ripple has recently acquired Standard Custody &amp; Trust, a digital asset custody provider.</li> 
</ul> 
Brad Garlinghouse, CEO of <a href="https://crypto.ro/en/cryptocurrencies/xrp/">Ripple</a>, recently expressed in a Bloomberg interview that the company would be open to the creation of an exchange-traded fund (ETF) centered on the XRP token. 
Garlinghouse shared this stance on February 20, emphasizing that the company would “certainly welcome it”. 
The CEO also stated his belief in the inevitability of multiple ETFs centered around different tokens. 
<h2 id="future-predictions-for-etfs">Future Predictions for ETFs</h2> 
He further speculated on the future of the space, predicting the emergence of ETFs around baskets, which he believes will “diversify the risks” for investors. 
Comparing the current situation with spot Bitcoin ETFs to the early days of the stock market, Garlinghouse stated that “it only makes sense” to have other ETFs. 
He also suggested that investors are not interested in exposure to just one stock, but prefer to diversify their investments. 
When questioned about whether Ripple is currently in discussions with ETF issuers, Garlinghouse declined to comment. 
However, he reiterated the company’s position: “We think it makes sense for the XRP community overall.” 
The CEO also discussed the “long-term view”, stating that digital assets are about creating utility and solving real-world problems. 
He mentioned that <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin (BTC)</a> has been successful as a store of value, while he considers XRP to be “ideal for payments.” 
Besides the potential XRP ETF, Garlinghouse also commented on Ripple’s recent acquisition of Standard Custody &amp; Trust. 
This US-based digital asset custody provider was purchased by the firm on February 13. 
Standard Custody &amp; Trust is a qualified custodian under federal legislation, offering custody and escrow services under a charter granted by the New York State Department of Financial Services. 
Garlinghouse stated that custody is one of the fundamental building blocks that will contribute to the success of crypto. 
He explained that institutions need the ability to custody their own digital assets and their customers’ crypto as well. 
The CEO emphasized that Standard Custody &amp; Trust’s license is a crucial part of their push for a “compliance first” mindset.

Brad Garlinghouse Invites XRP ETF: A New Era for Ripple

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Altri articoli pubblicati su 21 feb 2024

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