Valkyrie CIO "Open to the Possibility of an XRP Spot ETF"
Steven McClurg, co-founder and CIO of Valkyrie Investments, told The Block that the firm is "open to the possibility of launching a spot ETF for XRP." "Cryptocurrencies are a new asset class, and it took us a long time to get to the point where we could launch a BTC spot ETF. There are a lot of differences between BTC and ETH, and we need a year to figure it out and understand it. So we can't launch an ETH spot ETF right now. However, since BTC, ETH and XRP have all been deemed not to be securities, we are open to the possibility of launching a spot ETF for XRP in addition to ETH." Fidelity, BlackRock, Franklin Templeton and Invesco-Gelaxy Digital are among the asset managers that have applied for an ETH spot ETF.
The day before, Ripple's CEO said the company was open to launching an ETF with XRP as the underlying asset. "An XRP ETF is definitely something we would welcome," Ripple CEO Brad Garlinghouse said in a Bloomberg interview on Tuesday. When asked if the company is in talks with asset managers like BlackRock to launch an ETF, he said he "can't answer that," but added, "I know BlackRock has mentioned some things publicly."
