Former Ripple Executive Responds to Claims about XRP ETFs

  • In the context of allegations that asset manager BlackRock is signaling the possibility of launching an XRP exchange-traded fund (ETF), McBride joined the XRP ETF speculation.
  • On February 21, Sean McBride made two new predictions; one was about XRP ETF approval in 2024 or 2025 and Ripple going public outside the United States in 2025.
  • As Bitcoin ETF issuers apply for spot Ether ETF approval in the United States following the successful launch of spot Bitcoin ETFs, speculation about XRP ETFs is high.

Sean McBride, former director of Ripple, clarified news regarding XRP ETF rumors: Is an ETF application coming?

McBride Responds to XRP ETF News

Ripple-XRP

Former director of Ripple, Sean McBride, joined the XRP ETF speculation in the context of allegations that asset manager BlackRock is signaling the possibility of launching an XRP exchange-traded fund (ETF). McBride responded to a post on Saturday, stating that he never said the XRP ETF would come in weeks.

Sean McBride denied rumors that the XRP ETF would come in the next few weeks and confirmed to the XRP community that the ETF approval is likely to come in the next 44 weeks. On February 21, Sean McBride made two new predictions; one was about XRP ETF approval in 2024 or 2025 and Ripple going public outside the United States in 2025.

Clarifying the facts about his past position at Ripple, he said, ‘I was also a Director. There is no such thing as a ‘Lead Director.’ I just want to get the facts right here.’

As Bitcoin ETF issuers apply for spot Ether ETF approval in the United States following the successful launch of spot Bitcoin ETFs, speculation about XRP ETFs is high. Grayscale is attempting to convert its Ethereum Trust into a spot Ether ETF.

Ripple CEO Brad Garlinghouse’s Views on XRP ETF Possibilities

Ripple CEO Brad Garlinghouse shared important information about the possibility of an XRP exchange-traded fund (ETF) in an interview with Bloomberg. He stated that Ripple is open to the idea of launching an XRP ETF. However, the ongoing SEC lawsuit against Ripple, especially the SEC’s argument that XRP is a security, contradicts the likelihood of imminent approval for a spot XRP ETF.

Additionally, regulatory authorities like the U.S. Securities and Exchange Commission have emphasized the need to provide adequate supervision against fraud and manipulation for ETF approval and evaluated the necessity of having a futures market, such as the one on the Chicago Mercantile Exchange (CME).

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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