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ZyCrypto 2025-01-08 14:31:05

Ripple President Says XRP Next In Line For U.S. Spot ETFs In 2025 To Rival Bitcoin, Ethereum

Ripple President Says XRP Next In Line For U.S. Spot ETFs In 2025 To Rival Bitcoin, Ethereum

2024 was a pivotal year for the Ripple ecosystem, marked by notable launches and renewed regulatory optimism. That optimism came despite an ongoing legal wrangle with the U.S. Securities and Exchange Commission (SEC) that has now stretched into its fifth year. Nevertheless, XRP, a Ripple-promoted cryptocurrency, saw prices not seen since 2018 . In the process, it momentarily usurped Tether’s USDT to become the third-largest crypto asset by market cap — and now Ripple President Monica Long has forecasted that XRP could “soon” secure spot exchange-traded funds (ETFs) in the United States following the approval of similar Bitcoin and Ethereum products in early 2024. XRP ETFs Coming In 2025? Billions of dollars in investor money poured into exchange-traded products based on Bitcoin (BTC) and Ethereum (ETH) in 2024, and XRP could join the party in the U.S. in the near future, according to Ripple President. Speaking in a recent interview with Bloomberg, Monica Long said she expects many crypto-based exchange-traded funds to go live in the US in 2025. Long predicted that XRP would be the next coin to win approval from the Securities and Exchange Commission after BTC and ETH. Notably, exchange-traded products for XRP already exist in markets outside the U.S., but some asset managers have gotten the regulatory process underway in the United States in a bid to launch spot funds that track the price of the Ripple-linked token. On Dec. 2, WisdomTree became the fourth asset manager to submit paperwork for a spot XRP ETF with the SEC, joining Bitwise , Canary Capital , and 21Shares . Bitwise and 21Shares were notably also among the first issuers of spot BTC ETFs in Jan. 2024. The veteran Ripple executive suggested that the incoming pro-crypto Donald Trump administration could expedite their approvals. As ZyCrypto reported, Trump appointed crypto-friendly Paul Atkins to head the SEC as current chair Gary Gensler is set to resign . When Will Ripple’s New Stablecoin Start Trading On Coinbase Apart from the potential of an XRP ETF, Garlinghouse commented on Ripple’s newly launched RLUSD stablecoin . Ripple recently launched its own U.S. dollar-pegged stablecoin to the broader public on Ethereum and the XRP Ledger networks. The token is currently trading on platforms, including MoonPay, Uphold, Bitso, Archax, and CoinMENA. During the Bloomberg interview, Monica Long was asked when Ripple intends to list RLUSD on prominent exchanges such as Coinbase. While stressing that Ripple is looking to expand the stablecoin’s availability and distribution to more platforms, she revealed that a Coinbase listing could come soon. When asked exactly how soon this will happen, she answered, “imminently.” RLUSD has a market capitalization of around $72.6 million as of press time, according to CoinGecko data.

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