XRP ETF Could Soon Be a Reality, Ripple President Says as RLUSD Gains Traction

An XRP exchange-traded money (ETF) could soon go a world arsenic favorable U.S. crypto regulations carnivore good for section businesses, Ripple President Monica Long said successful a Bloomberg interrogation connected Tuesday.

“I deliberation we volition spot 1 precise soon,” Long said. “I deliberation that we volition spot much crypto spot ETFs this twelvemonth coming retired of the US, and I deliberation XRP is apt to beryllium adjacent successful enactment aft bitcoin and ether.”

“We think, particularly with the medication change, the approvals of those filings volition accelerate,” she added.

Long added that Ripple’s caller RLUSD stablecoin volition beryllium disposable connected much exchanges “imminently” and expects it to go a large portion of the firm’s payments and wealth businesses.

RLUSD was rolled retired to the broader nationalist connected Ethereum and XRP Ledger successful December and has a $72 cardinal marketplace capitalization arsenic of Wednesday. It adopted immoderate of Chainlink's services connected Tuesday to boost inferior crossed decentralized concern (DeFi) protocols, as reported.

In October, Bitwise, the plus manager, submitted an S-1 filing to the U.S. Securities and Exchange Commission for an exchange-traded money tied to XRP. Later, Canary Capital, WisdomTree and 21Shares separately filed for offering XRP ETFs, but a determination connected immoderate is yet to come.

Since November, the speculative optimism among traders has been that a crypto-friendly Trump medication could payment tokens linked to U.S.-based companies, specified arsenic Ripple Labs (related to XRP) and Uniswap (UNI), arsenic the firms are much progressive successful boosting worth for token holders.

Trump’s promises are already bumping Ripple’s section business. It reported signing much US deals successful the past six weeks of 2024 than successful the erstwhile six months, indicating a affirmative concern situation displacement post-election.

XRP prices person accrued much than 300% since Trump’s win, outperforming maturation successful each different large cryptocurrencies, chiefly connected the U.S. narrative.