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Ripple’s CEO States BlackRock Launching XRP ETF is Beneficial for XRP Army

Damien Fisher Crypto Journalist Author expertise
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Ripple’s CEO Brad Garlinghouse recently opined that a decision by BlackRock to introduce an XRP exchange-traded fund (ETF) is sensible. Garlinghouse shared this opinion in a Bloomberg interview, maintaining that the XRP community will embrace such developments. 

The speculations of an XRP ETF approval after the first set of Bitcoin ETFs were approved prompted the reactions from the Ripple CEO.

XRP ETF Has Potential To Create A Safer Market

During the interview, Brad Garlinghouse reacted to the rumors surrounding an XRP ETF, stating that it is logical to expect the emergence of other ETFs after Bitcoin. Also, he compared the current speculations to the early days of the stock market when investors looked for diversified exposure and options. 

Garlinghouse believes that other crypto spot ETFs, such as XRP, will launch to diversify options in the market. He believes that more ETFs will make the market safer and robust with more options, which is good for the investment community. 

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Following his responses, a Bloomberg reporter asked Garlinghouse if Ripple would embrace the idea of an XRP ETF. The CEO affirmed it would be a welcome development, describing an XRP ETF as inevitable. 

However, when asked if Ripple discussed the possibility with BlackRock, Garlinghouse was evasive. 

He refrained from answering the question, stating that BlackRock had made some comments publicly. Despite the conservative answer, the CEO remarked that the launch of an XRP ETF would make sense for the XRP community. Garlinghouse believes other ETFs will eventually be created, but crypto regulations must be clearly defined.  

He further criticized the SEC’s regulatory framework, calling for regulatory clarity for stablecoins and other cryptocurrencies. In addition, Garlinghouse suggested that the Federal Executive Council will likely step in at some point to review crypto regulations. 

However, he believes it might not happen anytime soon as the US elections are at hand.

Crypto Community Reacts To Garlinghouse Thoughts On An XRP ETF

After Brad Garlinghouse’s interview with Bloomberg, the Crypto research team Good Morning Crypto reacted.

According to the researchers, the CEO hinted at a potential “game-changing connection between BlackRock and Ripple,” which will likely result in the launch of an XRP ETF in the US.

Based on that, Good Morning Crypto asked, “Could Blackrock and Ripple be secretly collaborating on an XRP ETF?” For now, such collaboration is still speculative. Despite Garlinghouse’s optimism about other ETFs launching, he did not set a definite timeline for this launch. 

Instead, he noted that it took a court order to mandate the SEC to approve Bitcoin Spot ETF, indicating that other crypto ETFs may not be released soon. Like an X user, Drew said in response to the question, “He always dances around the question.”

While responding to Drew’s answer, another X user commented, “In this case, I guess he had to… Blackrock CEO asked about XRP ETF and answered he couldn’t talk about it… Brad’s behavior is quite similar, not answering the question, and that is probably because of their NDA.”

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Damien Fisher Crypto Journalist

Damien Fisher Crypto Journalist

Damien Fisher is a seasoned crypto news writer with a relentless curiosity for blockchain technology and cryptocurrencies. With a career spanning over a decade, Damien has solidified his position as a trusted authority in the industry. Besides contributing insightful articles to TechReport, he also lends his expertise to reputable sites like Invezz and CryptoCoin.News. Through his work, Damien continues to provide valuable information to readers, keeping them informed about the latest developments and trends in the ever-evolving world of cryptocurrencies. His passion for the subject and dedication to accuracy make him a standout figure in the crypto news space.

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