XRP ETF Optimism and Ripple CEO Insights
As excitement for an XRP ETF rises, insights from Ripple’s CEO, Brad Garlinghouse, have come to light. Recently, three issuers—Bitwise, VanEck, and Canary—submitted updated S-1 filings.
There’s talk that the Canary XRP ETF might be launched on November 13th if Nasdaq approves the 8-A filing. Moreover, the Bitwise XRP ETF, given its concise language, could see a launch within the next 20 days, according to Bloomberg ETF analyst James Seifert.
This comes after the debut of new Spot ETFs for Solana, HBAR, and LTC. The Bitwise Solana ETF (BSOL) kicked off impressively, significantly outpacing all crypto ETPs, including BlackRock’s Bitcoin ETF, by pulling in $417 million in weekly inflows, as noted by Bloomberg’s Eric Balchunas.
While the Solana ETF has shown robust performance, there’s a similar sense of anticipation surrounding the XRP ETF. Nate Geraci, President of Novadius Wealth, suggested that “the Spot XRP ETF could achieve similar, if not better, valuation.”
XRP Insights Shared
A recent tweet from Versan Aljara, founder of Black Swan Capitalist, highlighted a point that seems to have originated from Garlinghouse. He remarked, “XRP isn’t about who owns it; it’s about the connections it facilitates. In a digital financial landscape, its value is tied to the global value it generates. That distinguishes infrastructure from speculation.”
Aljara emphasized the succinctness of this insight, saying, “Brad Garlinghouse gets it.” He also mentioned that XRP was never meant to be a low-cost asset, adding, “You can’t manage the world’s debt, derivatives, and liquidity with low-value bridging assets. High prices are a result, not just speculation.”
From this viewpoint, Ripple intends to pursue partnerships that harness the capabilities of XRP and foster meaningful collaborations in the payments sector.
XRP holders are similarly engaged, with 7,196,887 individuals currently holding the cryptocurrency, which is trading at $2.49, according to data from blockchain explorer XRPL Services.
