Key takeaways
- Ripple President expects an XRP ETF to launch soon after the Bitcoin and Ethereum ETFs.
- Ripple’s RLUSD stablecoin has reached a market cap of $72 million and is expanding its distribution.
Ripple president Monica Long expects a spot XRP exchange-traded fund to launch “very soon,” likely the next major crypto ETF after those tied to Bitcoin and Ethereum.
“We will see various crypto ETFs this year coming out of the US. XRP is likely to be next in line after Bitcoin and ETH,” Long said in a interview with Bloomberg Crypto this week.
Bitwise, 21Shares, Canary Capital and WisdomTree are among the companies that have filed with the SEC for XRP ETFs. Long believes a change in regulatory approach under the incoming Trump administration will speed up the review and approval process for these filings.
“We believe, especially with the change of administration, that the approval of these applications will be accelerated,” she said.
Gaming markets however, on Polymarket shows 71% odds for an XRP ETF launch this year separate vote indicating lower confidence in approval at the end of July.
The Ripple President also discussed the growth and introduction of Ripple’s RLUSD stablecoin, which just debuted last month and has surpassed $72 million in market capitalization according to CoinGecko. Stablecoin is currently available on several platforms including Bitso, MoonPay, CoinMina, Bullish, Mercado Bitcoin and B2C2.
When asked if Ripple plans for RLUSD listings on major exchanges like Coinbase, she said that Ripple is actively working to list their stablecoin on more crypto exchanges.
“We’re continuing to expand the distribution and availability of Ripple dollars on other exchanges. So I think you can expect to see more availability, more announcements coming soon… soon,” Long said.
Long believes the stablecoin market is growing and will continue to grow “tremendously” this year. Given the crucial role of stablecoins as on-ramps and off-ramps, the demand for stablecoins like Ripples will grow as the crypto market grows.
“Our business doubled in payments last year, so we see a really strong growth trajectory for our payments solution. And with that, Ripple US dollars will have a premium role,” she said.
