Ripple President Monica Long spoke about the future of XRP exchange-traded funds (ETFs) and the company’s stablecoin, RLUSD, in a recent interview with Bloomberg News on January 7.
Ripple’s president Monica Long believes that XRP ETF is next after Bitcoin and Ethereum. Source: Bloomberg
An exchange-traded fund (ETF) is an investment product that tracks the price of an asset. XRP ETFs would allow investors to gain exposure to XRP without directly owning the cryptocurrency. Currently, Bitcoin and Ethereum ETFs are available, but an XRP ETF is still waiting for approval.
XRP ETFs Could Be Next
Long mentioned that companies like Canary Capital, Bitwise, 21Shares, and WisdomTree have already filed applications for XRP ETFs with the U.S. Securities and Exchange Commission (SEC). She believes these applications could gain approval soon, especially with a change in the U.S. administration.
In November 2024, Donald Trump was re-elected as U.S. President. Trump’s administration is expected to take a friendlier approach toward cryptocurrencies, ushering in a new era for the crypto industry.
On January 20, SEC Chair Gary Gensler, known for his tough stance on crypto, will leave his position. Paul Atkins, who previously served as an SEC commissioner, has been nominated to replace the current SEC chair. Atkins is considered to be more supportive of crypto innovation than his predecessor, Gary Gensler. Many are hopeful that this leadership change could lead to faster approvals for crypto products like XRP ETFs.
Ripple’s RLUSD Are Expanding On Exchanges
Ripple’s RLUSD stablecoin is also expanding. Stablecoins are cryptocurrencies designed to maintain a stable value and are often linked to a traditional currency like the U.S. dollar. RLUSD is currently available on exchanges like Bitso, Moonpay, and CoinMina. Ripple plans to list RLUSD on more platforms, including Bullish, Mercado Bitcoin, and B2C2.
“We are continuing to expand the distribution and availability of RLUSD on other exchanges. So, I think you can expect to see more availability and more announcements coming soon.”
Notably, Monica Long explained that demand for stablecoins is growing. She expects 2025 to be a major year for cryptocurrencies. Ripple also reported that its payments business doubled last year. Above all, the company believes that RLUSD will play a key role in its future growth.
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