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wave president Monica Long has affirmed that XRP Spot Exchange Traded Fund (ETF) Likely to be approved “very soon” and expected to be next after recently approved Bitcoin (CRYPTO: BTC) i Ethereum (CRYPTO: ETH) ETFs.
Long’s comments suggest a significant change in the regulatory landscape, which could open up (CRYPTO: XRP) to a broader investor base.
What happened: In a Bloomberg interview on Wednesday, Long suggested that an XRP ETF is not just a possibility, but a likely development in the near term.
“I think we’ll see one very soon,” he said.
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He further clarified that “I think we’ll see more crypto-spot ETFs coming out of the US this year. I think XRP is likely to be next after Bitcoin and ETH.”
The approval of a XRP ETF it would mark a major milestone for the asset and potentially lead to a wave of institutional investment.
Long attributes this anticipated acceleration to a “change of administration and the approvals of these files.”
His comment indicates that changes in regulatory policy are now creating a more favorable environment for crypto ETF approvals.
He also noted that several companies, including canariesthey have already requested it XRP spot ETFfurther cementing his confidence in his approval.
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Why it matters: In addition to his comments on the long-awaited XRP ETF, Long discussed the growth of Ripple’s payment solutions and the growing demand for stablecoins.
He revealed that Ripple’s payment solutions business doubled last year and predicts a strong growth trajectory.
He also talked about the company’s stablecoin, RLUSD which, he stated, “will have a premium role”.
Long said that stablecoins act as a critical part of the crypto infrastructure, stating that “it’s really the way to get in and out of the ramp” and also “used as a key asset in trading.”
