Brad Garlinghouse, the CEO of financial technology company Ripple Labs, has disclosed that the crypto solutions provider and developer of the Ripple payment protocol would welcome a spot exchange-traded fund (ETF) for the network’s native token, XRP.
Ripple to Welcome Spot XRP ETF
Speaking on his thoughts about the current state of the crypto industry in a Bloomberg interview, Garlinghouse chipped in that creating multiple ETFs around different tokens is inevitable as they would further diversify the risk of trading such investment vehicles. He added that some firms may even launch basket ETFs, containing a collection of multiple crypto assets.
Likening the condition of the crypto ETF space to the earliest days of the stock market, the Ripple CEO explained that investors would not want exposure to just one stock or company, as they would prefer to diversify their risks and portfolio. For this purpose, there would eventually be other funds to diversify the risk from spot Bitcoin ETFs.
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