Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Ripple CEO Brad Garlinghouse's insights on XRP have emerged as XRP ETF optimism soars. In the week just concluded, updated S-1 filings were made by three issuers, Bitwise, VanEck and Canary.
According to expectations, the Canary XRP ETF might potentially launch Nov. 13, assuming Nasdaq green-lights its 8-A filing. According to Bloomberg ETF analyst James Seyffart, Bitwise XRP ETF's shorter language might allow it to launch in the next 20 days.
This follows the launch of Solana, HBAR and LTC spot ETFs in the week. Bitwise's Solana ETF, BSOL, took off to a strong start and not only saw strong volumes but surpassed all crypto ETPs by a country mile, including BlackRock's Bitcoin ETF, in weekly inflows with $417 million, according to Bloomberg analyst Eric Balchunas.
With the Solana ETF taking off to a strong start, similar expectations are in place for an XRP ETF, with Novadius Wealth President Nate Geraci predicting, "Spot xrp ETFs will likely see similar reception, if not greater."
XRP insight revealed
In a recent tweet, Black Swan Capitalist founder Versan Aljarrah shared insights believed to have emerged from Ripple CEO Brad Garlinghouse: "XRP isn’t about who holds it, it’s about what it connects. In the digital financial system, value will reflect the magnitude of global value it moves. That’s the difference between speculation and infrastructure."
Aljarrah noted the succinctness of this insight, saying, "Brad Garlinghouse gets it."
As reported, Aljarrah indicated that XRP was never designed to be cheap, saying, "You can’t move global debt, derivatives, and liquidity with a low-value bridge asset. A high price isn’t speculation, it’s function."
In this light, Ripple continues to explore collaborations that harness the power of XRP, building new partnerships that put purpose into payments.
XRP does not lag in holders as well, with 7,196,887 holders currently holding the crypto asset, according to blockchain explorer XRPL Services, and trades at $2.49.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team