Key Takeaways
Ripple President anticipates an XRP ETF will launch soon after Bitcoin and Ethereum ETFs.
Ripple’s RLUSD stablecoin has reached a $72 million market cap and is expanding its distribution.
Ripple President Monica Long anticipates a spot XRP exchange-traded fund will 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 an interview with Bloomberg Crypto this week.
Bitwise, 21Shares, Canary Capital, and WisdomTree are among the firms that have filed applications with the SEC for XRP ETFs. Long believes a shift in regulatory approach under the incoming Trump administration will expedite the review and approval process for these filings.
“We think especially with the administration change, the approval of those filings will accelerate,” she said.
Betting markets on Polymarket show 71% odds for an XRP ETF launch this year, though separate polling indicates lower confidence in approval by July’s end.
Ripple President also discussed the growth and adoption of Ripple’s RLUSD stablecoin, which just debuted last month and has exceeded $72 million in market cap according to CoinGecko. The stablecoin is currently available on several platforms including Bitso, MoonPay, CoinMina, Bullish, Mercado Bitcoin, and B2C2.
When asked whether Ripple plans for RLUSD listings on major exchanges like Coinbase, she said Ripple is actively working to list their stablecoin on more crypto exchanges.
“We are continuing to expand distribution and availability of Ripple dollars on other exchanges. So I think you can expect to see more availability, more announcements coming soon… imminently,” Long said.
Long believes the stablecoin market is growing and will continue to grow “tremendously” this year. Given stablecoin’s crucial role as on-ramps and off-ramps, as the crypto market grows, so will the demand for stablecoins like Ripple’s.
“Our business doubled within payments last year, and so we see a really strong growth trajectory for our payment solution. And with that, Ripple US dollar will have a premium role,” she said.