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XRP ETF Would Make A Lot of Sense: Says Ripple President Monica At Consensus 2024

Ripple President Monica Long has highlighted the strategic benefits of an xRP ETF, emphasizing its logical fit within the current market trends. Her sentiments mirror those of Ripple CEO Brad Garlinghouse, who expressed confidence that spot XRP ETFs would become a reality by 2025 during a recent live broadcast. Garlinghouse’s outlook was influenced by key conversations at the Consensus 2024 conference, which gathered over 15,000 Web3, Blockchain, and Cryptocurrency enthusiasts in Austin.

At Consensus 2024, Garlinghouse predicted the advent of XRP ETFs and similar financial products for other cryptocurrencies like Solana and Cardano. He underscored the inevitability of these developments as the crypto market matures and gains broader acceptance.

Regulatory Shifts and US SEC’s Stance on Crypto ETFs 

The ETF landscape recently saw advancements with the approval of Ethereum spot ETFs by the US Securities and Exchange Commission. Cathie Wood, CEO of ARK Invest, highlighted during Consensus 2024 that political dynamics turned crypto into an election issue, influencing regulatory decisions.

This shift was evident when SEC Chair Gray Gensler, who once resisted crypto ETFs, recently discussed the pending ETH ETF launching process more casually. Gensler’s change in tone followed the D.C. Circuit Court of Appeals’ ruling in favor of Grayscale against the SEC, which compelled the regulator to reconsider its stance on crypto ETFs.

XRP’s Market Position and Growth Potential 

XRP is the eighth largest cryptocurrency by market cap, valued at $29.1 billion, with a 24-hour trading volume of approximately $917.5 million. These metrics highlight the significant interest and trading activity surrounding XRP, reinforcing the potential impact of an ETF on its market dynamics.

The endorsement of an XRP ETF by Ripple’s leadership, combined with recent regulatory shifts, suggests a promising future for cryptocurrency ETFs. As the industry moves toward broader acceptance and integration into traditional financial systems, stakeholders are keenly watching the developments that could reshape the market. 

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