Monica Long, who holds the position of president at Ripple, thinks it’s likely that the digital currency XRP could soon receive approval for a spot Exchange Traded Fund (ETF) within the United States.
In an interview with Bloomberg on a Tuesday, Long expressed his belief that several exchange-traded funds (ETFs) based on cryptocurrency spots will become available for trading in the year 2025.
Last year, the SEC famously approved Bitcoin and Ethereum ETFs.
For some time now, it has been observed that various corporations have applied for an Exchange-Traded Fund (ETF) based on XRP. Ripple anticipates that the approvals of these applications will speed up in 2023.
RLUSD will get more listings
As per Long’s explanation, Ripple believes that the cryptocurrency market as a whole will experience significant growth this year. Consequently, there’s an anticipated rise in the need for stablecoin products in line with this expansion.
In December, the company formally debuted their RLUSD stablecoin, a digital currency that’s now available for trading on various platforms like Bullish.
According to Long, RLUSD is expected to get more listings in the near future on major exchanges.
She has added that more announcements about the availability of the RLUSD token are coming soon.
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2025-01-07 23:59