Ripple CEO Brad Garlinghouse discussed the increasing interest in crypto ETFs and their impact on the financial markets during a 'Crypto in One Minute' podcast episode.
Growing Interest in Crypto ETFs
Garlinghouse noted that crypto ETFs have become a new avenue for investments in cryptocurrencies, particularly for institutional investors. He explained that ETFs allow for direct trading of crypto on Wall Street, which was previously unavailable. CITE_NA: 'This was really the first time you had institutions be able to go on Wall Street and trade directly in crypto.'
New Products in the ETF Market
Recently, Volatility Shares launched its XRP Futures ETF, which will invest in the future of the Ripple token through its Cayman Islands subsidiary. The new product, $XRPI, will invest at least 80% of its net assets in XRP-linked instruments. A 2x XRP futures ETF is also set to be released, designed to provide double-leveraged exposure to XRP.
Key Figures in the Market
Lawyer John Deaton expressed that some Ripple executives could be potential candidates for a crypto Mount Rushmore due to their contributions to the industry. He mentioned Ripple co-founder Jed McCaleb and CEO Brad Garlinghouse for their achievements, including the launch of the RLUSD stablecoin and the acquisition of Hidden Road.
The evolution of crypto ETFs and new offerings in the market are significant steps towards institutionalizing the crypto industry, opening up new opportunities for both investors and traditional financial markets.
